Do you have an elderly loved one in a nursing home? You likely expect them to receive a standard level of care from nursing home staff depending on their needs. However, your elderly loved one could be susceptible to financial abuse.
Older adults who are 60 years of age or older may be more vulnerable to scams, even in nursing homes. Your loved one’s physical or mental health conditions could limit their ability to understand or react to someone taking advantage of them. Financial abuse can come from caregivers and other nursing home faculty who are taking advantage of your elderly loved one for their own gain.
You can spot signs of financial abuse and take action. Here are a few signs of nursing home financial abuse:
1. Missing valuables
Your loved one may have gone into a nursing home with precious valuables or received valuables from others. These valuables can include jewelry, watches, electronics, gift cards and cash. When visiting your elderly loved one at the nursing home, you may notice that their valuables are missing without any clear explanation. This could be a sign your loved one was stolen from.
2. Estate plan changes
Your elderly loved one may have an estate plan. You may have been notified that their estate plan was recently changed, such as the power of attorney or beneficiary. You may identify the new name on your loved one’s estate plan as a nursing home caregiver or faculty. This may have been done as an attempt to take your loved one’s assets away from them.
3. Unexplainable banking statements
You may have access to your loved one’s savings and bank accounts. You may have noticed that there is missing money from the account or mysterious transactions that your loved one did not make. This could be a sign that an unauthorized user has access to your loved one’s financial accounts.
To learn how to protect your elderly loved one, you may need to reach out for legal guidance.