Financial Abuse - Terry Law Firm

Financial Abuse

Financial abuse is a type of nursing home abuse that involves any unauthorized use of an older adult’s funds, property, or assets. This can include stealing, forging signatures, or coercing an older adult to give away money or property. Financial abuse can also involve charging excessive fees or prices for goods or services.

The effects of financial abuse can be devastating and long-lasting. Older adults who experience financial abuse may suffer from a loss of financial security, a decreased quality of life, and an increased risk of neglect or abuse.

Signs of Financial Abuse

It is important to be able to recognize the signs of financial abuse in nursing homes so that you can take action to prevent further harm. Some signs of financial abuse may include:

  • Sudden changes in an older adult’s financial situation
  • Unexplained withdrawals or transfers of funds
  • Missing personal belongings or valuable items
  • Unpaid bills or debts despite having sufficient resources
  • Evidence of unauthorized use of an older adult’s funds or property
  • Reluctance to discuss finances or appear fearful or anxious around staff members

Preventing Financial Abuse

Preventing financial abuse in nursing homes requires a multi-faceted approach that involves not only identifying and reporting abuse but also addressing the underlying causes of mistreatment. This can include improving staffing levels, providing training to staff members on identifying and preventing abuse, and implementing policies and procedures that prioritize resident safety and well-being.

It is important to create a culture of trust and transparency in nursing homes. Caregivers should receive ongoing training to recognize and prevent financial abuse, and residents should have access to legal and financial counseling services if needed.

Reporting Financial Abuse

If you suspect that an older adult is being financially abused in a nursing home, it is important to report the abuse to the appropriate authorities as soon as possible. This can include state agencies, local law enforcement, or adult protective services. You can also contact the ombudsman for assistance and support.

Financial abuse is a serious problem in nursing homes that can have devastating consequences for older adults. By being aware of the signs of financial abuse and taking action to prevent mistreatment, you can help protect your loved ones and ensure that nursing home residents receive the care and respect they deserve. If you suspect financial abuse, don’t hesitate to report it and seek legal help. The Terry Law Firm can help you get the justice you deserve.

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