Elderly citizens need to have certain protections to safeguard finances from people who do not have their best interests at heart. This undue influence can take the form of transferring money from one account to another or simply taking advantage of another person's weaker state of mind.
Financial abuse runs rampant in elderly communities. You naturally want the best for your elderly relatives, so you should remain vigilant if other relatives or friends seem to influence those senior citizens. It is much more beneficial to curtail this behavior before elderly loved ones pass away, and there are several common signs to look out for.
1. Relative begins isolating elderly from others
It is a common practice from those practicing undue influence to prevent the elderly family member from seeing other relatives. In the event a person can see the parent, then the relative may insist on being present. The relative may try to avoid any conversations taking place related to finances. However, you should pay attention to the elder's body language. They may give off signs there is undue influence present by staying quiet on certain issues or fidgeting when the relative gets near.
2. Relatives depends on elder financially
A relative living with an elderly parent may not be too strange, but you should take notice if you learn the parent pays for everything in the household. If the parent pays the relative's rent, bills and food, then it could be a sign of abuse.
3. Relative moves elder to another location without any notice
At one point, your elderly parent may no longer be able to live on his or her own and need to move to a home. This decision needs to facilitate a discussion among all the children and relevant family members. If one relative makes all of the parent's living arrangements on behalf of the parent without anyone else's input, then it is a sign something is off.