Warning Signs of Financial Abuse of the Elderly
Studies show that financial abuse of the elderly is a growing problem throughout the United States and especially here in Florida. The overall population is aging, and persons over 65 years old control about one-third of the wealth in the United States. This creates a big problem when you consider this group is much more susceptible to abuse due to health problems like dementia.
Estimates show that Americans loose nearly $3 billion a year due to financial abuse of the elderly from friends, loved ones, or even strangers. This abuse comes in the form of financial abuse, scams, and other types of exploitation. The worst part is this type of financial abuse of the elderly is that it usually goes undiscovered until all an elder’s money is gone.