Elder financial abuse is one of the most underreported and devastating crimes facing older Americans today. Unlike fraud schemes run by strangers, this type of abuse is often carried out by people the victim knows and trusts — family members, caregivers, or even a “new friend.”
The crime is defined as the illegal or improper use of an older person’s funds, property, or assets for personal gain. Because the abuse exploits personal relationships, it can be particularly damaging and difficult for victims to recognize or report. Many cases go unreported until significant financial harm has already occurred.
Financial exploitation can take many forms. Here are some of the most common red flags families should watch for:
Despite the seriousness of this crime, elder financial abuse frequently goes unreported. Victims may feel ashamed or embarrassed, or they may fear retaliation from the abuser, particularly if it is a close relative. Some victims simply don’t recognize that the exploitation is happening until it is too late.
Educating yourself and others is the first step in preventing financial elder abuse. By staying alert to the warning signs and being willing to speak up, you can help protect vulnerable seniors from losing their life savings to exploitation.
If you or a loved one have been the victim of elder financial abuse, contact ChapmanAlbin today. Our firm represents individuals and families who have been harmed by financial misconduct, and we may be able to help you recover what was lost.
Step 1.
Talk to an Experienced Attorney Today
Call and speak to one of our attorneys* for a no-cost consultation to discuss your situation, answer your questions, and help you determine the next steps. This call usually takes about 15 minutes, but we are happy to talk to you as long as you would like!
Step 2.
Quick Review of Your Paperwork
If we think you might have a case, we will need to review a few basic documents. If we determine you have a case, then you will have the option to hire us as your attorneys to pursue it.
Step 3.
Signed Attorney/Client Agreement
If you decide to hire us to pursue your case, we will have you sign an attorney-client agreement so we can begin the process of trying to recover your losses.*
*In the vast majority of cases, our agreement is contingent – meaning you won’t owe us any money unless we recover money for you.