Whether you fear that someone has taken advantage of you from a financial viewpoint or you have concerns about your loved one’s finances due to suspected abuse, make sure you take a careful look at various warning signs associated with this form of mistreatment. Financial abuse occurs in many nursing homes and some common warning signs include abrupt changes to estate plans and suspicious activity on financial accounts. However, there are many other potential signs of abuse.
Sometimes, families do not pay attention to these concerning details until it is too late.
Looking for indicators of financial abuse
The Consumer Financial Protection Bureau published helpful information regarding warning signs of financial abuse. For example, some victims of financial abuse exhibit unusual behavior, such as hiding their belongings, hoarding or becoming secretive. Sometimes, victims allege that documents or money is missing. In some instances, those with cognitive impairment are mistaken. Unfortunately, some victims are not taken seriously because of their mental state.
Missing items and financial abuse
If your loved one lives in a nursing home and you worry that they are experiencing financial abuse, you should also pay attention to their belongings. If you notice that items are missing (or replaced with cheaper items), this could indicate abuse. Missing medication, paperwork and even credit cards require serious attention. Moreover, if you hear strange requests, such as someone pressuring your loved one to sign a document, carefully look into the matter. Regrettably, these warning signs do not always receive the attention they deserve and older adults suffer from a financial and emotional viewpoint.