Estate Planning/Probate

Be on the Lookout for Elder Financial Abuse

Mar 20, 2015

With the entry of the baby boom generation into retirement age and an increasingly large population of seniors in the US, elder abuse has become more and more common. As you age, you may find yourself less able to keep up with your financial assets and accounts. Perhaps you have enlisted help from a younger relative to manage your affairs, but feel that this person may not have your best interests at heart. Perhaps you’ve noticed a check missing from your checkbook, or a strange deduction you don’t remember authorizing. If you notice anything like the following, you may be the victim of financial abuse:

  • You noticed a strange withdrawal from your account that you don’t recall making or authorizing
  • You receive mail regarding an account, credit card, or line of credit that you don’t believe you opened
  • You receive an offer for a financial investment opportunity that sounds too good to be true
  • A name has been added to your account which you didn’t authorize
  • You found a canceled check or contract where the signature doesn’t look like yours, or which you don’t recall signing
  • You notice important bills piling up which you’ve tasked someone else with paying—this may indicate that your caretaker is using the money intended for your bills for personal expenses.
  • You noticed that a valuable item is missing from your home
  • You feel as though your caretaker may be keeping you isolated from other friends and family members. They could be attempting to hide their theft or manipulation of your finances.

If you fear that you may be the victim of elder financial abuse, don’t feel embarrassed. Make sure you seek help in ending the abuse before your carefully-built savings are consumed. A lawyer can help you choose and assign a power of attorney to a trusted individual and help you create a will or trust to ensure your assets are protected and go to the right person.

If you need help drafting a will or believe that someone close to you is stealing from you, seek assistance from a law firm you can trust. Contact the experienced Kentucky trust and estate attorneys at Greta Hoffman & Associates for a free consultation regarding your need. Our compassionate attorneys are located in Florence, Kentucky, and are available throughout Burlington, Union, Fort Thomas, Silver Grove, and Southeast Ohio.