Philadelphia Elder Financial Abuse Lawyer

Instances of financial abuse are on the rise as the economic downturn steered more people in the direction of caring for an older adult. According to the Centers for Disease Control and Prevention elder financial abuse and exploitation occurs any time there is an unauthorized misuse of an elder’s resources for the monetary or personal gain of another. There is no national reporting system for financial exploitation of elders in the United States; therefore it is believed that financial abuse is occurring at a much higher rate than currently reported. At Rosenbaum & Associates, our Philadelphia financial elder abuse attorneys will do their best to investigate your case and hold the negligent party responsible. We offer free consultations and are available to take your call 24/7.

Issues With Underreporting

The dangers to underreporting or not having a national policy as to curb elder abuse is that the abuse is allowed to go occur just behind closed doors. The National Adult Protective Services Association (“NAPSA”) estimates that financial exploitation comprises approximately 13 percent of the reported allegations that the group investigates. Often financial exploitation become coupled with neglect or abuse and is referred to as a hybrid financial exploitation. The less independent the elder is and the more that the elder depends on another party for every day functions, the greater the chances of a hybrid financial exploitation.

The Philadelphia nursing home abuse lawyers at Rosenbaum & Associates has over 25 years experience working to compensate the injured party from the reckless disregard of the financial exploiters and any injuries their harm may have caused.

Elder Financial Abuse Signs

Some warning signs that indicate elder financial abuse is occurring are dramatic changes in an individual’s finances, inappropriate banking activity such as large cash withdrawals or checks made out to cash. Expensive gifts made from the elder to the caretaker. As well as legal documents signed when the elder is incapable of competently signing, most often seen in the Power of Attorney being assigned when the elder lacks mental capacity to do so. Isolating an elder by a caregiver or not allowing a nursing home resident to have guests or speak with them in private are tale tell signs that something is amiss. Isolation prevents the elder’s other social circles from realizing the elder’s deteriorating state of being.

Financial abuse is often used as a means to control and coerce an elder into changing their estate, will or property rights. Independence both physical and financial is important to older Americans. A NAPSA study indicates that 1 in 10 financial abuse victims will have to turn to Medicaid as a direct result of their own financial wealth being stolen from them.

Contact a Philadelphia Elder Financial Abuse Attorney

If you or a loved one was sustained injuries that resulted from elder abuse or neglect our Philadelphia medical malpractice lawyers may be able to help you recover just compensation. In order to determine whether you have grounds for a case, please contact us online or call 1 800 7 LEGAL 7 for a Free Case Evaluation