Elder Exploitation
Elder exploitation refers to the act of taking advantage of elderly individuals, typically for personal gain or financial exploitation. It involves the manipulation, deceit, or misuse of an older adult’s resources, assets, or trust. Elder exploitation can take various forms, including:
Financial Exploitation: This involves unauthorized or improper use of an older adult’s funds, assets, property, or financial resources. Perpetrators may deceive or coerce the elderly person into giving them money, access to their bank accounts, or control over their finances. Examples include scams, fraudulent schemes, identity theft, undue influence, or misuse of power of attorney.
Fraud: Fraud occurs when someone intentionally deceives an older adult for personal gain. This can include false promises, misleading information, or manipulation to obtain money, property, or valuable assets from the older adult.
Home Repair or Contractor Fraud: This form of exploitation involves contractors or repair workers taking advantage of older adults by overcharging, performing unnecessary repairs, or not completing the agreed-upon work.
Healthcare Fraud: Healthcare providers or professionals may exploit older adults by billing for services not rendered, overcharging, or prescribing unnecessary medications or treatments.
Sweepstakes or Lottery Scams: Perpetrators may deceive older adults by informing them that they have won a large sum of money or a prize but require them to pay fees or provide personal information to claim the winnings.
Internet or Technology Scams: With the increasing use of technology, older adults can be targeted through email phishing, fraudulent websites, or phone scams where personal information or financial details are obtained for exploitation.
Elder exploitation can have severe consequences, resulting in financial ruin, emotional distress, and a loss of trust for the older adult. Perpetrators of elder exploitation can be strangers, family members, caregivers, or individuals in positions of trust. Recognizing the signs of elder exploitation, such as sudden changes in financial circumstances, unexplained transfers of assets, or isolation from friends and family, is crucial in identifying and preventing such abuse. Reporting suspicions of elder exploitation to appropriate authorities is essential to protect the rights and well-being of older adults.
Work with an Experienced Virginia Estate Planning Attorney
If you have questions about your rights, potential risks, and protective measures you can take, we are here to help. We can help you with developing a comprehensive estate plan that includes provisions to protect your assets and ensure your wishes are followed. Contact Wilson Law PLC today at 866-603-5976 to set up a meeting or fill out our contact form and we will call you to schedule your meeting.
