Financial EA is any improper conduct (done with or without the consent of the senior) that results in personal monetary gain for the abuser and/or loss for the older adult. Most financial abuse is perpetrated by family members or caregivers.

Signs include: 

  • Misuse of Powers of Attorney (PoA),  taking property or funds without permission, forging documents
  • Taking over a senior’s home, without paying a fair share of the expenses.
  • Exerting Undue pressure (coercion) on a senior to sell, or relinquish his or her home or other personal property
  • Exerting Undue pressure (coercion) on a senior to sign legal documents without their fully understanding the consequences

Examples

  • Relatives take control of finances, bank cards, accounts without permission
  • An older adult is pressured into giving money, gifts, or loans they cannot afford
  • Legal/financial documents are changed under pressure, or without full understanding of consequences
  • Scams or fraud repeatedly target an older adult