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Financial Elder Abuse

Altoona Lawyer for Financial Elder Abuse

Holding Caregivers Accountable for the Harm They Cause

Elder abuse is an increasingly common problem affecting the millions of aging Americans across the country. Although elder abuse is often thought of in terms of physical abuse (in addition to mental and sexual abuse) there are many other ways that people take advantage of the elderly. One of these major other ways is through financial abuse. It is very easy for caretakers, family members, friends, or strangers to manipulate an elderly person’s bank account, take out large sums of money, or use credit cards in the elderly person’s name.

Just because an elderly relative’s monetary interactions look odd does not mean that financial elder abuse occurred, but talking with an attorney is a smart decision when you suspect that things did not go as planned. Speak to an experienced Pennsylvania elder abuse attorney today by contacting us at 814-515-9074.

When Financial Elder Abuse Occurs

A recent report by MetLife, Inc. estimated that over $2.9 billion dollars are being taken from the elderly without their knowledge every year. This is up 12% from a similar study in 2008. The most alarming part of these statistics is that 4 out of 5 financial abuse cases go unreported, so these numbers reflect an inaccurately low representation of the situation.

It was estimated that, in half of these cases, strangers were the ones taking advantage of the elderly party. Some people have made a living by staking out cars with handicap stickers or seeing elderly people exit cars using canes or walkers. They then take rob the elderly party or try to befriend the person to take their money later. 35% of the remaining cases came from parties the elderly person knew, such as neighbors, family, or friends, and the remaining 12-15% came from businesses. Additionally, women were twice as likely as men to be the victim of financial abuse.

Talk With an Attorney About Your Financial Exploitation Case

There are many warning signs for elder financial exploitation. Some of them are: use of their personal checks, credit cards, and bank accounts without knowledge, forging their signature, or by identity theft. If you trusted a caregiver with your loved one’s care but they were financially exploited instead, it could be time to take legal action. To schedule a free initial consultation with Attorney Douglas V. Stoehr, contact our Central Pennsylvania law firm by calling 814-515-9074.

Home and hospital visits can be arranged. Evening and weekend hours are available for your convenience.