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Financial elder abuse includes stealing property and/or money from an elder. The culprit is most often the caregiver, and the elder is left without means of stopping the theft. Unfortunately, this usually involves the caregiver taking complete control of the elder’s finances as well as daily activities. The caregiver might not allow the elder to talk freely to his or her family or friends or alert proper authorities about the theft.

All too often it is the elder’s children who are involved in financial elder abuse. Many times, the elder is not aware of what is happening because of advanced age or because of memory loss or illness. Other potential abusers include agents acting under power of attorney, financial planners, family members and friends.

Types of financial elder abuse include:

• cashing checks without the elder’s authorization
• using an elder’s credit card without authorization
• taking cash from an elder’s wallet, safe or bank
• stealing social security checks
• embezzling
• stealing property, food or giving the elder incorrect change for purchases

Warning signs that financial elder abuse is taking place include:

• false signatures on checks and credit cards
• unusual bank withdrawals that can’t be explained
• bills going unpaid even though someone has been designated to pay them
• missing household items
• isolation from friends and family by the caregiver or someone else
• depression (the elder feels unable to resolve the problem)

Safety precautions you can take as an elder include:

• Never give out your credit card number, bank account number, or other personal information, including home address or phone number.
• Hang up the phone if it is a telemarketer, or subscribe to the national Do Not Call Registry.
• Properly dispose of or shred all financial documents and other documents containing personal information.
• Do not accept work from unlicensed contractors.

If you suspect financial elder abuse taking place, contact police immediately. There are also local Adult Protection Agencies available. Any power of attorneys can be reversed; some of the financial damage may be possible to repair. Contact a personal injury attorney immediately in order to file a personal injury claim and begin reclaiming your property.