Elder Financial Abuse

What is elder financial abuse?

Elder financial abuse refers to the fraudulent, unauthorized, or improper act of taking advantage of an elderly person for monetary benefit, personal benefit, or profit.

Why are the elderly most commonly targeted with investment fraud schemes?

Older individuals are often the target of investment fraud because they tend to be more trusting, are likely to have good credit, may have significant savings built up, may suffer from poor memory, and oftentimes don’t report instances of fraud.

How can you protect an elderly loved one from falling victim to an investment scheme?

If you have an elderly loved one, educate him or her about scam prevention and warning signs, add their phone numbers to the do not call list, and make a conscious effort to stay involved and aware.

What are the warning signs that an elderly loved one has been scammed?

Signs of financial trouble include: suddenly becoming disengaged and shying away from discussing finances, becoming depressed or anxious, and unpaid bills or eviction notices with no clear explanation.

What should you do if you or a loved one has fallen victim to elder financial abuse?

If you recognize that you or a loved one has been scammed, you should secure all bank accounts and cards, report the scam to the local police department and the FTC, file a fraud alert with the major credit bureaus, and contact an investment fraud attorney who can guide you through the steps to recovery.

Take the next steps to find out if you have a claim:

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.

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