You want to think the best of your family members, but sometimes the signs are too alarming to ignore. If you are suspicious that your sibling or another relative is stealing money from your elderly parent, you are likely feeling anger and confusion. According to AgingCare, most financial elder abusers are family members.
But how do you know financial exploitation is occurring? Here are four warning signs that your aging parent is experiencing financial abuse.
1. A relative is living with and depends on your parent
Is someone in your family living with mom or dad? Even if this relative has a job, maybe your parent is covering most-or all-of his or her bills. If this has been going on for a long time, it may be a sign that your relative is manipulating your aging parent.
2. A relative is isolating your parent from you and others
If one of your family members is restricting access to other family members or blocking visits, this is a crucial red flag. This occurs because the abuser does not want anyone to notice what is going on in order to avoid scrutiny. If you or other members of your family are not seeing your parent as frequently, this may be a serious concern.
3. Estate planning documents are suddenly changing
Did you receive a notice that your elderly parent made abrupt changes to his or her durable power of attorney, beneficiary designations or trustee? If names are suddenly removed or added, this could be a sign that your parent is the victim of manipulation.
4. A family member moves your parent without notice
If your parent is suddenly living somewhere else with a relative without any discussion, you may need to worry and take legal action. A kidnapping of your elderly parent is a serious sign that something fishy is going on.
If you suspect your parent is a victim of financial abuse, talk to an attorney.