The Threat of Financial Abuse in Nursing Homes

Older adults, especially those who rely on the assistance of others for daily life, are extremely vulnerable to abuse. Elder abuse comes in many forms, including financial. Seniors living in nursing homes can be easy targets for predators, and the risk of financial exploitation is very real. When an opportunist sees an opening to take advantage of an elder party’s trust, confusion, or isolation; that older adult could become the victim of financial abuse.

It can be difficult to detect financial abuse in nursing homes, and even more alarmingly, it can be even harder to stop. It is essential that families and caregivers understand what financial abuse is and what to do should they suspect their loved one is being taken advantage of.

Financial abuse accounts for 14% of reported abuse cases in nursing homes, making it quite widespread. Individuals who are found to have committed financial abuse can face criminal consequences, and families of those who have suffered from abuse can also take action and hold these individuals civilly liable for the losses that were suffered. For more information or for help with an elder abuse claim, please call our South Jersey nursing home abuse lawyer at Monaco Law PC. 

What is Financial Abuse?

Every year, it is estimated that one in 20 nursing home residents will be financially exploited. Nationwide, victims of financial abuse in nursing homes lose billions.

Financial abuse happens when there is unauthorized or improper use of a nursing home resident’s money, property, or assets. As a result, financial abuse in nursing homes can take many forms, including:

• Stealing and theft of cash, credit cards, or checks
• Forging signatures on financial documents
• Fraudulent billing of services or products that were not provided
• Overcharging nursing home residents
• Manipulating residents to sign over power of attorney
• Identity theft
• Putting pressure on residents or threatening to give gifts or loans

Perpetrators of financial abuse in nursing homes can be strangers, but often, the abuse happens from those who hold a position of trust. As a result, it is not uncommon for nursing home staff or even other residents to engage in financial abuse.

Staying involved in your loved one’s care by visiting them frequently and checking in on them can reduce the chances they will be harmed while residing in a nursing home. However, if you believe that there is a problem with your loved one’s care, it is essential to report any instances where potential financial abuse may be occurring to the nursing home administrator and your state’s Adult Protective Services. Then, going over the residents’ financial records and looking for irregularities should be done. Finally, it can be advantageous to consult with an attorney for assistance with legal action.

Speak to a New Jersey and Pennsylvania Personal Injury Attorney Today

Call our South Jersey personal injury lawyer at Monaco Law PC at (609) 277-3166 for our New Jersey office and (215) 546-3166 for our Pennsylvania office to discuss your case today.

We are a New Jersey and Pennsylvania wrongful death and personal injury law firm serving Atlantic County, Bucks County,  Burlington County, Cape May County, Camden County, Chester County, Cumberland County, Delaware County, Gloucester County, Mercer County, Middlesex County, Monroe County, Montgomery County, Philadelphia, Ocean County, Salem County, Susquehanna County and all of New Jersey.

Source:

justice.gov/elderjustice/prosecutors/statutes