Frequently Asked Questions
Provided courtesy of the California Advocates for Nursing Home Reform (CANHR).
What is Elder Financial Abuse?
The civil law defines "elder financial abuse" as a form of elder abuse when a person or entity takes, secrets, appropriates or retains (or assists in this process) of real or personal property of an elder to a wrongful use or with the intent to defraud, or both. (Welfare & Inst. Code: 5610.30)
What are some common forms of elder financial abuse?
- Sale of unnecessary and inappropriate living trusts and annuities
- Reverse mortgage plans that deplete the elderly person's assets
- Predatory lending
- Illegal or predatory construction practices
- Inappropriate depletion of funds or transference of title of property owned by an elder by family members and caregivers
- Phony investment and lottery scams
What are the signs of elder financial abuse?
- Valuable personal property of the elder missing.
- Absence of basic amenities that the elder has adequate funds to buy.
- Unusual activity in bank accounts, especially withdrawals.
- Signatures on checks that does not resemble elder's.
- Frequent checks written to cash.
- Withdrawals from a bank account not used in years.
- Frequent payments to telemarketing promotions.
- Missing important documents, such as wills and stock certificates.
- Changes of title on bank accounts and property.
- Change of beneficiary status on bank or life insurance policies.
- Promises of life-long care in return for deeding assets to caregiver.
- Caregiver preoccupation with money.
- Refusal or reluctance of legal representative to spend money on care.
- Long lost relatives expressing concern about an elder who has assets.
Who is eligible to receive assistance from the Elder Law Clinic?
- Anyone 60 and older.
- Without the means of private legal representation.
Who is eligible to receive assistance from the Elder Law Clinic?
- If you think you have been the victim of elder financial abuse, call us at the Elder Law Clinic at 925-969-3441.
- When you suspect elder abuse of another, report it.
- If abuse occurs in an institution, report it to local law enforcement or the state Ombudsman 800.231.4024.
- If elder abuse occurs in a community setting, report the abuse to either Adult Protective Services 877.839.4347 or local law enforcement.
What can you do to prevent financial abuse?
Be informed.
Learn to recognize the signs of elder abuse of all kinds.
Know how to contact community services and agencies that can help.
Know your rights in the community.
Be aware.
Never give out your social security number or financial information over the phone or email.
If a deal sounds too good to be true, it probably is.
Before you agree to anything, ask a professional.
Stay connected.
Isolation is the breeding ground for abuse.