Financial exploitation of the elderly is when an individual uses deception or coercion to take advantage of an elderly person’s financial resources for their own personal gain. This can include stealing money or property, forging signatures, or tricking an elderly person into signing financial documents.

Signs of financial exploitation of the elderly can include sudden changes in bank accounts or investments, unpaid bills, missing property or belongings, and sudden changes in a will or other legal documents. Additionally, if an elderly person becomes isolated or fearful of a caregiver or family member, this can be a sign of financial exploitation.

Legal remedies for financial exploitation of the elderly can include criminal prosecution, civil lawsuits, and protective orders. Additionally, many states have laws specifically designed to protect elderly individuals from financial exploitation and provide legal remedies for victims. It is important to seek legal advice from an attorney experienced in elder law to understand the available legal options.

Prevention strategies for financial exploitation of the elderly include staying connected with family and friends, being cautious of new acquaintances who show excessive interest in an individual’s finances, and avoiding making major financial decisions without consulting with a trusted advisor. Additionally, it can be helpful to have legal documents, such as power of attorney and trusts, in place to protect assets and ensure that they are used according to an individual’s wishes.