Risk Factors for Nursing Home Financial Abuse
Financial abuse occurs in nursing homes when a resident is financially exploited, typically by a facility staff member. Any form of nursing home abuse is egregious, but financial abuse is particularly damaging. Financial abuse can completely diminish a nursing home resident’s life savings that they worked so hard to establish. Some nursing home residents are at greater risk of financial abuse than others. Below, our Daniel Island nursing home abuse and negligence lawyer explains more.
Understanding Nursing Home Financial Abuse
Financial abuse occurs in nursing homes and other long-term care facilities when property, money, and valuable personal items are stolen from a resident. As people age, they typically require the help of someone else to manage their finances. This is especially true when nursing home residents suffer from dementia or Alzheimer’s. It is not uncommon for patients in nursing homes to put their trust in someone who does not have their best interests at heart. Unfortunately, financial abuse can happen in a number of ways including:
- Misusing a resident’s funds or property
- Tricking residents into signing a power of attorney or will leaving property to the abuser
- Stealing money or property from a resident’s room
- Unfairly pressuring a resident to sell or relinquish personal property
- Forging a resident’s signature on important documents, such as checks
- Transferring or withdrawing funds from a resident’s bank account without permission
- Misusing a resident’s credit cards
Financial abuse can be much more difficult to detect due to the fact that it does not physically impact nursing home residents. This type of abuse can happen for many years before it is finally detected.
Who is Most at Risk of Financial Abuse in Nursing Homes?
Although any nursing home resident can suffer from financial abuse, there are some individuals who are more at risk than others. These individuals include:
- Resident’s with a new ‘close friend’: It is a sad but true fact that residents in nursing homes are sometimes very lonely. This is especially true if they do not have friends or loved ones who live close by. People with corrupt intentions may try to become friends with these elders so they can take advantage of them. Any time a nursing home resident suddenly has a new friend they become close with very suddenly, it is a sign that they may be a victim of financial abuse.
- Residents suffering from dementia or Alzheimer’s: Nursing home residents suffering from Alzheimer’s or other forms of dementia cannot usually make decisions, think clearly, or care for themselves. This places them at a much greater risk of becoming a victim of financial abuse.
- Isolated residents: When nursing home residents do not have a strong support system around them, they are at greater risk of suffering from financial abuse.
Our Nursing Home Abuse and Negligence Lawyer in Daniel Island Can Help Your Family
At Fuller Law Firm, our Daniel Island nursing home abuse and negligence lawyer can help you determine if financial abuse is happening and put a stop to it. We will identify the liable party and hold them fully accountable for paying the full and fair compensation your loved one deserves. Call us now at 843-277-0013 or chat with us online to schedule a consultation and to get more information.