PROTECTING YOUR ELDER LOVED ONES FROM FINANCIAL ABUSE

By Fredrick P. Niemann, Esq., a NJ Elder Abuse and Financial Exploitation Attorney

It is no secret that the economy has worsened in recent years. Unfortunately, with the struggling economy has come a rise in elder financial abuse, Individuals see the elderly as being more vulnerable to scams, fraud, and other financial abuse due to their older age and unfamiliarity with financial planning and improving technology.

The elderly are unfortunately most vulnerable to financial abuse at the hands of family members in need of money. Those closest to elder folks are often able to take advantage based on the trust that the elder individual has in them. Up to one million Americans in their elder age may be targeted per year. In 60% of elder financial abuse cases, family members and caregivers are the perpetrators.

There is no way to completely protect an elder loved one from financial abuse. However, there are steps that you can take to help significantly reduce the chances. Some key steps include:
• Involving more family members in the care of the elder loved one. More eyes = more protection.
• Using direct deposits more often. Make sure money goes into their bank account.
• Screen caregivers. Require and verify all references they give before hiring.
Contact me personally today to discuss your 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.