Protecting Elders From Financial Abuse And Exploitation
As we age, we become more vulnerable to financial exploitation. This is especially true for those suffering from cognitive impairments due to dementia, Alzheimer’s disease or a disability.
Prevention is the best way to address financial abuse before it happens. As part of our Elder Law practice at Korsinsky & Klein LLP, we safeguard clients from financial exploitation through careful estate planning, including planning for Medicaid eligibility. Our attorneys are passionate about protecting elders from exploitation as they grow old. The more we can do on the front end to ward off such abuse, the less you have to worry about.
Signs Of Elder Financial Abuse
If you see the signs of elder abuse, you should try to work with your elderly loved ones on an estate plan that will prevent further trouble. If an estate plan is created early on, you can avoid the following issues.
- Unpaid bills: An elderly person may not realize the money they gave to a new “friend” is not being used to pay their bills.
- Notices from landlords or mortgage companies: Landlords and/or mortgage companies might not have been paid because your elderly loved one has trusted someone else with that money.
- Missing property: Some family members or friends might notice that collectibles or valuable property have gone missing.
- Bank or credit card statements go to another address: You might discover that your elderly loved one has poor credit, but they have not heard of the credit cards that have been opened in their name.
- Unexplained monetary transactions: You might hear about financial transactions that your elderly loved one did not authorize.
Avoid Headaches And Heartaches By Developing A Solid Plan Now
We don’t want anyone to have to endure the nightmare of financial abuse or exploitation. By working with elders and their loved ones to put a proactive plan into place, we can avoid that headache and heartache.
Call us today at 212-257-0199 or contact us online for an initial consultation with one of our experienced lawyers. With offices conveniently located in Manhattan, Brooklyn and Lakewood, New Jersey, we help nursing home residents and their families throughout New York and New Jersey.