Financial Exploitation Of The Elderly In Alabama

Statistics from the National Council on Aging (NCOA) estimate that the financial exploitation of the elderly results in around $28 billion in losses per year. This is a particularly insidious form of elder abuse or nursing home abuse, and while it may not leave physical scars, it can destroy a loved one’s last years unless it is stopped and punished.

If you suspect an elderly loved one is experiencing any form of financial exploitation, contacting our Birmingham elder abuse attorneys at Goldasich, Vick & Fulk can be the first step toward holding the perpetrator accountable. We are ready to try and assist you and your family.

Unfortunately Common Behavior

Elder abuse in all its forms is sadly common, as malevolent or desperate people often see the elderly as ‘easy marks’ for exploitation or mistreatment. Before the COVID-19 pandemic, the reported rate of abuse for elderly people was 1 in 10, but during the pandemic period, as many as 1 in 5 allegedly fell victim – and this is only dealing with reported incidents. One study estimated that only 1 in 24 incidents were reported to authorities.

There are multiple ways an elderly person can experience abuse; while physical abuse is the most common, a person may also be abused emotionally, financially, sexually, and otherwise. While signs of physical abuse like bruises and broken bones may be immediately visible, though, signs of emotional or financial abuse are more difficult to spot.

Civil & Criminal Penalties

Financial exploitation is the improper use of another person’s funds, assets, or monetary instruments, and when it happens to a person over the age of 60, it is seen as a particularly abhorrent crime because of the victim’s vulnerability. That said, this offense will sometimes be charged as a misdemeanor if the amount involved is relatively low (under $500.00).

If your family has experienced this with an elderly loved one, keep in mind that you may be able to seek civil damages against the alleged abuser in addition to any criminal charges the state may bring against them. Too often, exploitation of the elderly can cause damage not only to the victim, but to the victim’s family as well – whether emotionally, financially, or otherwise – and it is your right to try and be made whole after what you have experienced.

We Are Ready To Help You

Finding out that your elderly loved one has been victimized is a feeling no one should ever have to experience. Our Birmingham elder abuse attorneys at Goldasich, Vick & Fulk can help to guide you through the process of seeking the compensation you deserve. Call our office today at (205) 731-2566 to schedule a consultation.

Source:

ncoa.org/article/get-the-facts-on-elder-abuse/