Virginia Beach Elder Financial Abuse

Protecting Your Loved Ones from Financial Exploitation

Financial abuse is a serious problem for many older Americans and their loved ones. According to the National Council on Aging, about 1 in 10 older Americans have experienced financial abuse. Financial exploitation is a form of abuse that occurs when a person takes advantage of an older adult's vulnerability to steal from them, take control of their finances, or otherwise misuse their financial resources. This can be done through physical or psychological means, or through undue influence or coercion.

The financial abuse of older adults is often perpetrated by children, spouses, or other relatives. However, it can also be committed by caregivers, service providers, or other individuals who are in a position to take advantage of an older adult's vulnerabilities. Financial abuse is often accompanied by other forms of abuse, such as physical or psychological abuse. The TrustBuilders Law Group can help you get the support you need to protect your loved ones from financial abuse.

Call (757) 500-5135 today for an initial consultation with our Virginia Beach financial elder abuse lawyer.

Financial Abuse of Elderly Victims

Financial abuse of elderly victims can take many forms. Some of the most common types of financial abuse include:

• Taking control of a senior's finances
• Misuse of a senior's finances
• Taking advantage of a senior's trust
• Misrepresenting a senior's financial situation
• Conning a senior into giving away assets
• Taking advantage of a senior's diminished capacity
• Using a senior's signature without permission

Financial abuse can be difficult to detect because it may not leave visible marks on a senior's body. However, financial abuse can have devastating effects on older adults. It can leave them without resources to meet their basic needs, or even put them in danger of eviction or homelessness. It can also harm their health and well-being, leaving them unable to pay for food, medication, or other necessities.

What Is Undue Influence and Financial Exploitation?

Financial exploitation of older adults is often accompanied by other forms of abuse. Undue influence is a form of manipulation that can occur when an older adult is persuaded or coerced into making a decision they would not otherwise make. This can be done through verbal threats, false promises, or other forms of persuasion. Financial exploitation is a form of undue influence that involves taking advantage of an older adult's vulnerabilities to steal from them or take control of their finances.

Financial exploitation can include:

• Misuse of a senior's finances
• Taking control of a senior's finances
• Misrepresenting a senior's financial situation
• Conning a senior into giving away assets
• Taking advantage of a senior's diminished capacity
• Using a senior's signature without permission

How to Protect Loved Ones from Financial Exploitation

Financial exploitation can be difficult to detect because it may not leave visible marks on a senior's body. However, financial abuse can have devastating effects on older adults. It can leave them without resources to meet their basic needs, or even put them in danger of eviction or homelessness. It can also harm their health and well-being, leaving them unable to pay for food, medication, or other necessities.

The TrustBuilders Law Group can help you get the support you need to protect your loved ones from financial abuse. We can help you put together a plan to protect your loved ones from financial abuse and other forms of abuse. We can also help you get the financial restitution you need to recover from financial abuse. Contact our elder law experts today for assistance navigating elder abuse in Virginia Beach.

Call (757) 500-5135 today for an initial consultation with our Virginia Beach elder financial abuse lawyer.