Financial abuse of the elderly is an unfortunate reality that can occur anywhere, even in nursing homes. It involves the unauthorized use of a person’s property, money or other assets.
Spotting financial abuse can be challenging, as it often occurs behind the scenes and without physical evidence. Yet, there are several indicators you should look out for to ensure the safety of your loved one’s assets and financial well-being.
1. Signs of unexplained financial transactions
A clear sign of potential financial abuse is any unexplained or unusual financial activity. This can include large withdrawals, frequent transfers or a sudden change in the person’s financial condition. If your loved one suddenly cannot afford things they used to, or if you notice inexplicable changes in their banking activities, these may be signs of financial abuse.
2. Disappearance of possessions or money
Your loved one’s possessions might start disappearing without explanation. Valuables, personal belongings or even cash can go missing. If your loved one or the nursing home staff cannot provide a reasonable explanation for these disappearances, it could signal that financial abuse is taking place.
3. Changes in legal documents
Changes in wills, power of attorney, titles and insurance policies are potential red flags. If your loved one’s legal documents got changed without their knowledge or if they cannot explain why the changes occurred, someone could be manipulating them for financial gain.
If you suspect that your loved one is dealing with financial abuse in their Pennsylvania nursing home, you must take immediate action to protect them from harm and protect their assets. Document the signs and evidence of potential abuse and report your concerns to the authorities and the nursing home administration. Financial abuse can have serious consequences, including a significant impact on your loved one’s quality of life.