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Signs of Financial Exploitation of Elderly

Signs of Financial Exploitation of Elderly 150 150 Rex Securities Law

According to Kath Greelee , assistant secretary for aging at the U.S. Department of Health and Human Services estimates that 4 oiut of 10 elders is financially exploited and that the most common abusers are loved ones and people in positions of trust, like financial advisors.

The National Center of Elder Abuse offers these 10 signs which may be indicative of financial exploitation:

1-Sudden changes in bank account or banking practice, including an unexplained withdrawal of large sums of money by a person accompanying the elder.

2. Names added to an elder’s bank signature card.

3. Unauthorized withdrawal of the elder’s funds using the elder’s ATM card.

4. Abrupt changes in a will or other financial documents.

5. Unexplained disappearance of funds or valuable possessions.

6. Substandard care being provided or bills unpaid despite the availability of adequate financial resources.

7. Discovery of an elder’s signature being forged for financial transactions or for the titles of his/her possessions.

8. Sudden appearance of previously uninvolved relatives claiming their rights to an elder’s affairs and possessions.

9. Unexplained sudden transfer of assets to a family member or someone outside the family

10. Provision of services that are not necessary.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.  Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

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