Has your Loved one been the Victim of Financial Abuse?

Each day, we hear on the news, in the newspaper and even on the Internet about cases of identity theft or how people were scammed losing most if not all of their finances. The residents of Tennessee, particularly the elderly, are affected by this type of threat every day. These signs may not be visible in the way bruises or dehydration are, but it is still abuse and can ruin many people’s lives quickly. If you think that your loved one has been a victim of financial abuse, you may be able to file a claim with a Tennessee financial abuse lawyer. At The Higgins Firm, we are ready to hear your claim.

Why Are the Elderly More Susceptible to Financial Abuse?

There are many reasons that make a person more susceptible to financial abuse, and the elderly all across the country, Tennessee included, are no exception. Many elderly people including those in Tennessee become isolated from their friends or family members. This makes it easier for criminals to abuse them financially because:

  • They are more likely to speak to the criminal
  • They are afraid and cannot speak up
  • Fear of physical violence
  • Fear of being embarrassed

The criminal may have many ways to control or influence their elderly victim. Some of the tricks they may use are:

  • Tracking their calls
  • Reading their mail
  • Using physical violence
  • Using drugs to quiet them
What Can I Do to Help Prevent Financial Abuse of a Loved One?

There are many things you can to do to help make sure your loved one is well protected against financial abuse. Some of these may include, but are not limited to:

  • Checking in on them often
  • Getting permission to sign and monitor bank account information
  • Obtaining a general, durable power of attorney

This way you can know when your loved ones bank accounts are accessed and by whom. This will help to let you know if anyone else is using their account or financial information and if their financial security may be in any danger. This will also allow banks to tell you if there any suspicious activity with your loved one’s account because of elder financial abuse laws.

How Can I Tell If Financial Abuse May Have Taken Place?

There are some signs you can look for when trying to tell if financial abuse occurred. These may be but are not limited to:

  • Withdrawals from ATM more than usual
  • Unexpected purchases
  • Stops receiving personal care
  • Bank account shows unexpected charges
  • Changes in bank or lawyer
  • Switches power of attorney
  • Will not communicate about purchases or changes

If you feel your loved one may be a victim of financial abuse, The Council on Aging of Greater Nashville has some recommendations including:

  • Keeping bank checks in a safe place
  • Not signing the bank of a check until ready for deposit
  • Direct deposit for Social security Checks
What do I do if my loved one has suffered from financial abuse?

If you feel your Tennessee loved one has been the victim of financial abuse, first it is important to contact all banks and financial institutions and let them know. Next, gather any documents that may show financial abuse. Finally, contact our caring and experienced Tennessee financial abuse attorneys at The Higgins Firm. We will help you and your loved one recover any losses and make sure the ones responsible pay for the abuse they caused.

Call our law offices at 800-705-2121 to speak with one of our elder financial abuse attorneys.