Financial Exploitation of the Elderly by Family: What to Do

Elder financial abuse is an issue that affects many families, and it’s not uncommon for siblings to be involved.

But what should you do if you suspect your sibling is financially abusing your elderly parent or grandparent? Is it your responsibility to report them to the authorities, or should you handle it another way?

In this article, we’ll explore the various aspects of elder financial abuse and help you understand the steps you can take to protect your loved ones.

What Is Elder Financial Abuse?

Elder financial abuse refers to exploiting an elderly person’s financial resources by someone they trust, such as a family member, caregiver, or friend.

This abuse can take many forms, including:

• Stealing money

• Forging checks

• Manipulating investments

• Using coercion to force the elderly person to sign legal documents

It can be difficult to detect, as many victims may be too embarrassed or ashamed to report it. Elder financial abuse can have devastating consequences, including financial ruin, homelessness, and physical and psychological trauma.

It’s important to be aware of the signs of elder financial abuse and take steps to prevent it from happening to your loved ones.

Signs of Elder Financial Abuse

If you suspect that your sibling is financially abusing your elderly parent or grandparent, there are some signs you can look out for.

These may include:

• Unexplained withdrawals from bank accounts

• Changes in the elder’s financial habits or behavior

• Missing valuables or personal belongings

• Forged signatures on checks or legal documents

• Unpaid bills or utilities that should have been covered by the elder

• Sudden changes in the elder’s will or estate plan

If you notice any signs of elder financial abuse, it’s important to take action to protect your loved one. Start by gathering evidence and approaching your loved one’s caregiver or family member to discuss your concerns.

If you cannot resolve the issue, you may need to report the abuse and seek legal assistance. Early intervention is key to preventing further harm and protecting your loved one’s financial well-being.

Steps to Take If You Suspect Your Sibling is Financially Abusing Your Loved One

If you suspect that your sibling is financially abusing your elderly parent or grandparent, it’s important to take action to protect your loved one. Here are some steps you can take.

Approach Your Sibling

Approaching your sibling about their behavior can be difficult, but it’s important to have a conversation with them before taking any drastic actions.

Start by expressing your concerns and providing evidence of financial abuse. You may want to enlist the help of other family members or an elder law attorney to mediate the conversation.

Report Elder Financial Abuse

If your sibling is unwilling to stop their behavior, you may need to report the financial elder abuse to the authorities for an investigation. This can lead to criminal charges and possibly even jail time for the abuser. A good place to start is the Minnesota Elder Justice Center, elderjusticemn.org.

It’s important to gather as much evidence as possible before making a report, including bank statements, legal documents, and witness statements.

Protect Your Loved One From Further Harm

If you suspect that your sibling is financially abusing your elderly parent or grandparent, it’s important to take steps to protect them from further harm. This may include helping your parent get their legal paperwork in order, seeking a court order to prevent your sibling from accessing their finances or hiring a caregiver to help manage their affairs.

Seek Legal Assistance

Safe Harbor Estate Law can help you navigate the legal system and ensure that your loved one’s rights are protected.

They can help you get the paperwork in place to have someone safe handling the affairs. An experienced elder law attorney like Safe Harbor’s attorney’s, can help you navigate the legal system and ensure that your loved one’s rights are protected. Contact Safe Harbor Estate Law for a Strategy Session to get started today.

The Consequences of Elder Financial Abuse Charges

Discovering that your sibling is facing criminal charges for elder financial abuse can be devastating. On one hand, you want to protect your loved one from harm, but on the other, it’s still your sibling, and you don’t want to see their life ruined.

The potential consequences of a conviction can be severe, including fines, restitution, and even jail time. To protect their rights, it’s crucial to have an experienced Minneapolis theft lawyer by their side.

The attorneys at Martine Law have extensive experience defending individuals accused of financial crimes. They understand the complex nature of elder financial abuse cases and are committed to providing compassionate and effective legal representation.

A theft lawyer can help your sibling by:

• Protecting their rights and ensuring they receive a fair trial

• Building a strong defense strategy

• Negotiating with the prosecutor to explore alternatives to a criminal conviction

• Explaining the charges against them

• Helping them navigate the emotional impact of criminal charges

Their team understands the stress and uncertainty of facing criminal charges for elder financial abuse. Contact Martine Law today to schedule a consultation.