Financial Exploitation in Nursing Homes: Protect Your Loved Ones

Nursing homes are meant to be safe havens, providing care for the elderly when they can no longer live independently. While most of us are concerned with the potential physical and emotional abuse that might occur, an often overlooked form of nursing home negligence is financial exploitation. With the rapid growth in the aging population, the potential for this form of elder abuse is growing at an alarming rate. At Sugarman Law, we believe it’s crucial to shed light on this issue, ensuring that families know how to spot the signs and take protective legal action.

Types of Financial Exploitation

Financial exploitation in nursing homes comes in various forms. Some of the most common include:

• Theft of Money or Personal Property: This involves taking money, jewelry, or other valuable items without the owner’s knowledge or permission.
• Misuse of Financial Accounts: Unauthorized or unexplained withdrawals from a victim’s bank account or making unauthorized purchases using their credit or debit cards.
• Fraud: This includes practices like forging the victim’s signature on checks, creating fake documents to access funds, or tricking the victim into signing up for expensive services or products they don’t need.
• Scams: There are countless scams targeting the elderly, including lottery scams, romance scams, grandparent scams, and telemarketing fraud. Typically, scammers manipulate the victim into voluntarily giving up their money.
• Real Estate Fraud: This might involve tricking or pressuring a person into selling their home, taking out a reverse mortgage, or transferring property titles without a clear understanding of the consequences.
• Improper Use of Power of Attorney or Guardianship: This occurs when someone granted power of attorney or guardianship over an individual abuses that power for personal financial gain rather than acting in the individual’s best interest.
• Identity Theft: Acquiring and using a person’s personal information, like their social security number or bank account details, to steal money or get credit and other benefits in their name.
• Contract Fraud: This involves tricking the victim into signing contracts they don’t understand, often leading to the loss of assets or recurring expenses.
• Investment Schemes: Convincing the victim to invest in fraudulent enterprises or buy stocks that don’t exist.
• Annuity & Insurance Frauds: Selling unsuitable insurance policies or annuities to seniors who might not need or benefit from them.
• Undue Influence: Manipulating a vulnerable individual to rewrite their will, thereby benefiting the manipulator.
• Deceptive Acts or Practices: Charging for services that were not rendered or selling products under false pretenses.

By understanding these forms of financial exploitation, families and caregivers can better protect their loved ones and ensure that they are not being taken advantage of. If you suspect someone is a victim, it’s essential to report your concerns to the appropriate authorities or seek legal advice.

Signs to Watch For

If your loved one is in a nursing home, it’s vital to be vigilant and monitor for signs of financial exploitation. Some indications include:

• Unexplained Bank Withdrawals or Transfers: Large or frequent withdrawals from a bank account that the individual cannot explain or seems unaware of.
• Discrepancies in Financial Documents: Unexplained or unauthorized changes to wills, power of attorney designations, titles, or beneficiaries.
• Missing Personal Items: If valuables such as jewelry, art, or other personal items suddenly go missing or are replaced with cheaper versions.
• Unpaid Bills: Despite having enough funds, you might notice unpaid bills, eviction notices, or utilities being turned off due to non-payment.
• Isolation: A new friend or caregiver isolates the individual from their family, friends, or regular social activities, often intending to exert control or influence over them.
• Sudden Increase in Expenses: New, unexpected expenses that the individual can’t explain or seems unaware of.
• Suspicious New Relationships: The emergence of new “best friends,” especially those who show excessive interest in the person’s finances or who alienate them from other friends and family.
• Reluctance to Discuss Finances: The person becomes secretive or defensive when asked about their financial matters or any discrepancies.
• Signs of Fear or Submissiveness: A once-confident individual might suddenly display signs of fear, especially around certain people, or become overly submissive.
• Unusual Bank Activities: Frequent ATM withdrawals, especially from locations the individual doesn’t typically visit or at odd times, like in the middle of the night.
• Changes in Spending Patterns: The person might suddenly start buying items they don’t need or can’t afford, or they might be excessively frugal because someone is mismanaging or stealing their money.
• Unfamiliar Signatures: Seeing signatures on checks or documents that don’t resemble the individual’s usual signature.
• Frequent Calls from Telemarketers: A sign that the person might be on “sucker lists” and is a target for scams.
• Mail Discrepancies: Suddenly not receiving bank statements, bills, or other regular mail, suggesting someone might be redirecting their mail.

Legal Steps to Take

If you suspect your loved one is a victim of financial exploitation in a nursing home, it’s crucial to act quickly. The team at Sugarman Law recommends:

• Document Everything: Gather all evidence of suspected exploitation, including bank statements, missing valuables, or any other suspicious activities.
• Notify the Facility: While they might not be aware of the misconduct, they have a responsibility to ensure the safety and well-being of their residents.
• Report to Authorities: Depending on the nature and scale of the exploitation, this might mean contacting local police, Adult Protective Services, or even the state’s Attorney General office.
• Seek Legal Counsel: Financial exploitation cases can be complex, so it’s essential to work with a law firm experienced in this area. Sugarman Law has helped countless families navigate these challenging situations, ensuring that justice is served and the elderly are protected.

Contact an Experienced Nursing Home Negligence Lawyer at Sugarman Law for a Free Consultation About Your Case Today

Nursing homes should be places of care, security, and respect. While many provide excellent services, the sad reality is that financial exploitation is an ongoing problem in some facilities. By knowing the signs and taking swift action, you can protect your loved ones from becoming victims.

If you believe your loved one is experiencing financial exploitation, don’t wait. Contact Sugarman Law today for a consultation, and let us stand by your side in the fight for justice.