Although you have tried your best to assure your elderly relative is well cared for and safe from harm, that person can still fall prey to financial abuse. Here are a few warning signs:
• Bills are not being paid and money is missing from your loved one’s accounts.
• The person who is supposed to be handling finances has been withdrawing large sums.
• There is evidence of forgery or forced property transfers.
• Expensive items have been purchased using the older person's money, but without permission.
• The older person has been denied access to his or her own funds or home.
A geriatric care manager (GCM) can help avoid or detect elder financial abuse. GCMs can interview, monitor and supervise paid caregivers. Additionally, they can make sure they are bonded, background checked and have no access to older people’s finances.
For more information, visit the Consumer Library section of www.caremanager.org.