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Elder Financial Abuse
Elder Financial Abuse Financial abuse of elders
If you suspect an elder is experiencing a financial crime against them you need to take action as quickly as possible.

If you suspect someone is being subjected to this pain, you need to take action and convince them to allow you to assist them with their finances.  If you can't, contact Adult Protective Services and have them determine if elder abuse is occurring and what actions need to be taken to protect them.

One of the most despicable crimes is the financial abuse of elders.  This heartless act is usually committed by family members, caretakers, telemarketers, charities, religious organizations, unscrupulous investment advisors, and even credible financial institutions. 

Whether they are a relative, friend or acquaintance, elder financial abuse takes it's toll on the physical and mental health of the victim.  It is difficult to help someone if they refuse your assistance, and sometimes it can only be done by going to court to get limited or permanent conservatorship of the person.  This should only be done as a last resort.  Taking away the independence of any person should be avoided, but when the elder or disabled person lacks the sophistication, or their mental capacity has been degraded, or is overly trusting of people or a specific person, it is urgent that you attempt to gain some form of control over their finances, while leaving their physical mobility intact. 

This is often an emotional process which can lead to resentment.  If done properly, the elder will eventually accept your help and recognize you for being there when they needed it the most.  For some the family dynamics is so strained you simply cannot off help or have it accepted, and when this occurs you need to go to Adult Protective Services.

If you find it difficult to assist the victim of elder financial abuse or, as a friend or relative, you want to limit your exposure to the problem, you can contact Adult Protective Services.  If you are a Mandated Reporter, such as Clergy, caregiver, Doctor, Social Worker, all Bank Tellers and Employees, Pharmacist, Conservator, Guardian, Trustee, Administrator, Etc.  You must report elder abuse.

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