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Kansas City Elder Financial Abuse Attorneys
Financial Abuse by Nursing Homes & Caregivers
When most people think of nursing home abuse, they imagine physical acts of violence committed by staff against residents. While this certainly can and does occur, it is far from the only type of nursing home abuse.
Financial abuse against the elderly is far more common than many people realize. According to the National Council on Aging, financial elder abuse costs victims approximately $2.6 to $36.5 billion every year—and instances of this type of abuse are likely underreported.
If you or your loved one has suffered financial abuse at the hands of a trusted caregiver or nursing home facility, you could be entitled to compensation for your losses. At the Law Office of Tom Wagstaff Jr., we represent victims of all types of nursing home abuse, including financial abuse and exploitation. We invite you to get in touch with our team today to learn how we can help you seek justice.
Call (816) 597-4556 or reach us online using our secure contact form. Your initial consultation is free, and you do not pay any legal fees unless we win your case.
Understanding Financial Abuse
Financial abuse, also known as financial exploitation, occurs when one person or party attempts to defraud or steal from another or takes someone else’s money or personal belongings for their own use. Sadly, many financial abusers target older individuals. And, in fact, seniors may be at a higher risk of financial exploitation due to a variety of factors, including the fact that they are more likely to suffer from mental impairments, such as Alzheimer’s and dementia. Elderly individuals may also be less savvy when it coms to online security, making them a target for predators carrying out online scams.
Financial abuse can come from anywhere. Adult children are most often the perpetrators of elder financial abuse, but nursing homes and other long-term care facilities frequently exploit residents.
Examples of Financial Abuse in Nursing Homes
Some common examples of financial abuse in nursing homes include:
- Stealing checkbooks or credit/debit cards
- Unlawfully accessing residents’ bank information and accounts
- Making unauthorized withdrawals from bank accounts
- Pressuring residents into rewriting wills, trusts, or powers of attorney
- Forcing residents to include caregivers in wills
- Deceiving residents into transferring ownership of personal property
These and other acts of financial abuse and exploitation can have lasting consequences, significantly affecting the elderly victim and their family. Unfortunately, elder financial abuse can be difficult to spot, which is why it is so important that friends, family members, and loved ones know what signs to look out for when it comes to identifying possible mistreatment.
What Are the Signs of Elder Financial Abuse?
Always be wary of anyone who becomes possessive or controlling, especially when it comes to your or your loved one’s finances. One should never feel pressured to give money or personal belongings to someone else, including caregivers and nursing home staff. Thoroughly read all documents before signing and, if you are unsure of what the document states, have someone you trust—such as a lawyer or financial adviser—review it for you.
There are other signs to watch out for that may indicate elder financial abuse. These include:
- Unusual changes in the individual’s financial situation
- Unexplained withdrawals from bank accounts
- New names being added to the individual’s bank account or credit cards
- Bounced checks
- Sudden transfer of property rights or ownership
- Changes in spending habits
- Unpaid bills, past due notices, and collections letters
- Unexplained changes to a will, trust, or power of attorney
- New or changed attitude toward money, including acting stressed or worried about finances
If you believe that your elderly loved one may be suffering financial exploitation at the hands of a trusted caregiver or nursing home, take immediate action to stop the abuse. You can contact the long-term care ombudsman in your state or the appropriate government agency to report known or suspected elder abuse, including financial abuse and exploitation.
When to Hire an Elder Financial Abuse Attorney
The financial abuse and exploitation of seniors costs victims and their families billions of dollars a year in the United States. If you have suffered financial harm due to the fraudulent and unlawful conduct of a nursing home staff member or caregiver, you have the right to take legal action.
We encourage you to contact the Kansas City financial abuse attorneys at the Law Office of Tom Wagstaff Jr. as soon as possible. You have a limited amount of time to file your nursing home abuse claim; if you wait too long, you could lose your right to seek compensation for your damages, including financial loss, emotional distress, and pain and suffering. Our team is standing by, ready to assist you with your case. Reach out to us today to schedule a complimentary consultation.
Contact us online or by phone at (816) 597-4556.
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