What is Elder Financial Abuse and What to Do About It

By Fredrick P. Niemann, Esq. a New Jersey Elder Abuse Attorney

The precise definition of the term elder financial abuse varies considerably from state to state.  All definitions, however, focus on the central concept of misuse of the elder’s money or property.
According to the National Center on Elder Abuse, elder financial abuse is the illegal taking, misuse, or concealment of funds, property, or assets of a vulnerable elder at risk for harm by another due to changes in the elders’ physical functioning, mental functioning, or both.
Elder financial abuse is also called financial exploitation, misappropriation of funds, and fiduciary, economic, or material abuse.
The federal Older Americans Act defines “exploitation” as the “fraudulent or otherwise illegal, unauthorized, or improper act or process of an individual, including a caregiver or fiduciary, that uses the resources of an older individual for monetary or personal benefit, profit, or gain, or that results in depriving an older individual of rightful access to, or use of, benefits, resources, belongings, or assets.

Contact me personally today to discuss your New Jersey elder abuse matter.  I am easy to talk to, very approachable and can offer you practical, legal ways to handle your concerns.  You can reach me toll free at (855) 376-5291 or e-mail me at fniemann@hnlawfirm.com.