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Warning Signs of Financial Abuse of the Florida Elderly

Studies show that financial abuse of the elderly is a growing problem throughout the United States. This is especially true in Florida, where a large majority of the population is over 65 years old.   This can lead to huge problems when you consider the elderly are more susceptible to abuse due to mental health challenges like Alzheimer’s Disease and various types of Dementia.

Abuse can take the form of financial abuse, money scams, and exploitation.  The difficulty is that often financial abuse of the elderly goes undiscovered until all of their funds are depleted.

However, there are some common warning signs that indicate possible financial abuse of the elderly.  This is not an absolute or exhaustive list.

Common Warning Signs of Financial Abuse of the Elderly:

1.   Often the most telling indicator of financial abuse of the elderly is when they are isolated from family members or friends.  It is important that friends and family members keep in close contact with your loved ones as they age, to make sure they are doing well mentally and physically.  If they are isolated, or are prevented from communicating with friends and family members without the constant presence of a supposed “caregiver” or a particular suspect family member, then this may be a sign of elder abuse.

2.   Sometimes our loved ones become paranoid that someone is trying to take advantage of them. Often we can be dismissive of their opinions or the perceptions of our aging loved ones. Sometimes they may appear irritable or unaware, but they are often of sound mind and know exactly what is going on.  If a loved one expresses his or her belief someone is taking advantage of him or her, then this could be a sign of possible abuse and should not be ignored.

3.   Unusual bank account activity of a loved one can also be an indicator of possible financial abuse. Habits or routines of activity often becomes more common as someone ages.  When monitoring a loved one’s bank account, you may begin to notice strange activity that is out of the ordinary. This unusual activity may be frequent online purchases, automatic payments to new entities, or multiple payments for similar services each month. Being aware of your loved ones typical expenses, and bank activity will help to alert you sooner to unusual activity.

4.   In some cases, the abuse may be coming from a caregiver, supposedly concerned neighbors, or alleged friends or even a particular family member. Be mindful of these individuals influence over your loved one. Common signs may be if your loved one adds their caregiver or a new person’s name to their bank accounts or credit cards.  Or, if the caregiver or other person is receiving inordinately high compensation compared to caregivers or service providers with similar skills and experience.

The best means of detecting financial abuse of your loved one is to use common sense.  If something does not seem right, then it is very possible that something is not right. Do not delay in contacting law enforcement, the elder abuse hotline, or other agencies that are set up to assist elders who are victims of financial abuse or exploitation. Many times an elder person feels isolated and alone. Their family may live a great distance from them or they are estranged. They may become vulnerable as they seek companionship and help. See if there are church ministries or community social outreach groups that can help your elder loved one.

If you have any questions, or would like to further discuss this, or other Guardianship or Probate Administration matters please contact Ann Marie Gilden, Esquire of Ann Marie Giordano Gilden, P.A. at (407) 732-7600, and visit my website at www.AnnMarieGildenLaw.com

This information is provided only as educational materials, and does not constitute the providing of legal advice, and does not create any attorney client relationship.