Vincent, Romeo & Rodriguez, LLC
Denver Metro Office 303-500-5859
Boulder County Office 303-720-7260

Know the warning signs of financial elder abuse

Financial elder abuse is a growing issue for families in Colorado. As adults age, they face a higher risk of being victims of elder abuse, including financial abuse and exploitation. Financial abuse can significantly impact your family and make it difficult for you to pay for your parent’s care as they age.

Here’s what you need to know about financial abuse

What is financial abuse? Elder financial abuse can come in many forms, including stealing money, forging someone’s signature, forcing an elderly person to sign a legal document through undue influence, coercion or lies, fraudulent scams and telemarketing scams targeting the elderly.

Anyone can commit financial elder abuse. Family members and caregivers are the most common types of people to perpetrate this type of abuse. It is important to be aware of the risk of financial abuse, especially if your parent or loved one is elderly and requires assistance from others when it comes to their care, which includes managing their finances.

The warning signs of financial elder abuse include:

  • Account transfers or withdrawals that are not explained
  • Unpaid bills or late notices
  • Unusual bank account activity
  • New legal documents, such as powers of attorney, that seem questionable or confusing
  • Missing property or belongings
  • Elder is unable to explain new financial arrangements

What to do if you suspect financial abuse?

You may start to suspect financial exploitation if you notice on or several of these issues happening. If you do suspect financial abuse of a loved one, you should notify the authorities so they can look into the issue. You can also contact an elder law attorney to make sure your loved one’s rights are protected.

Financial exploitation is a serious issue. It is not uncommon to not notice the warning signs before it’s too late. However, becoming aware of the issue and the common signs of abuse can help you and your family stay safe.

No Comments

Leave a comment
Comment Information

Contact Our Firm

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Contact Information

Louisville Office
1805 Hwy. 42
Suite 100
Louisville, CO 80027

Phone: 303-720-7260
Fax: 303-604-6052
Louisville Law Office Map

Englewood Office
5460 South Quebec Street
Suite 333
Englewood, CO 80111

Phone: 303-500-5859
Fax: 303-723-8814
Englewood Law Office Map