Examples of financial abuse

Federal definitions of elder abuse, neglect, and exploitation appeared for the first time in the 1987 Amendments to the Older Americans Act. These definitions were provided in the law only as guidelines for identifying the problems and not for enforcement purposes.

Currently, elder abuse is defined by state laws, and state definitions in terms of what constitutes the abuse, neglect, or exploitation of the elderly. In addition, researchers have used many different definitions to study the problem.

In general, financial or material exploitation is defined as the illegal or improper use of an elder's funds, property or assets. Examples include, but are not limited to: cashing an elderly person's checks without authorization/permission; forging an older person's signature, misusing or stealing an older person's money or possessions, coercing or deceiving an older person into signing any document (e.g., contracts or wills), and the improper use of conservatorship, guardianship or power of attorney.

Depending on the statute of a given state, elder abuse may or may not be a crime. However, most physical, sexual and financial/material abuses are considered crimes in all states.

Signs and symptoms of financial or material exploitation include, but are not limited to:

• sudden changes in bank account or banking practice, including an unexplained withdrawal of large sums of money by a person accompanying the elder
• the inclusion of additional names on an elder's bank signature card
• unauthorized withdrawal of the elder's funds using the elder's ATM card
• abrupt changes in a will or other financial documents
• unexplained disappearance of funds or valuable possessions
• substandard care being provided despite the availability of adequate financial resources
• discovery of an elder's signature being forged for financial transactions and for the titles of his/her possessions
• sudden appearance of previously uninvolved relatives claiming their rights to an elder's affairs and possessions
• unexplained sudden transfer of assets to a family member or someone outside the family
• the provision of services that are not necessary, and
• an elder's report of financial exploitation.

[Source: National Center on Elder Abuse]