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How to Protect Nursing Home Residents from Financial Exploitation

Financial abuse is a widespread problem. While financial manipulation can happen to anyone, the elderly are especially at risk for experiencing financial abuse. Among elderly populations, nursing home residents are at the highest risk for being financially abused. If you suspect your loved one is experiencing financial abuse at their long-term care facility, it’s essential to take legal action. Working with a skilled nursing home abuse lawyer is the best way to ensure your loved one is protected. Here is some important information to know about financial exploitation in nursing homes. 

Financial Abuse in Nursing Homes

There is a wide variety of financial abuse mechanisms. Some of the most common forms of financial abuse that occur in nursing homes include:

  • Stealing money from a resident’s room. Nursing homes have minimal privacy, and many residents do not lock their doors on a regular basis. Additionally, resident’s rooms are subject to a heavy stream of people, such as nurses and caretakers. All of these factors combine to make stealing money directly from a resident’s room a common form of financial abuse. 
  • Misuse of a resident’s money. It’s not uncommon for a nursing home resident to provide someone with their financial information to handle their bills or shop for essential items. A common problem in these scenarios is taking advantage of having the resident’s financial information. This can come in the form of an individual buying things for themselves, writing an unauthorized check, and paying their own bills. 
  • Manipulating a resident into giving away their assets. Someone who has established trust with a resident can easily trick them into transferring assets. Usually, this comes in the form of a person manipulating the senior into signing a form that transfers money or assets from the senior’s account to their own. 
  • Manipulating a resident to create a new will. A common scheme in nursing homes is for someone to pretend to get close to a resident in hopes that they will include them in a new will. 
  • Identity theft. Often, con artists can steal a nursing home resident’s financial identity to open up credit cards and accounts in their name. 

These are just a couple of the ways a nursing home resident may experience financial abuse. It is important to note that while strangers are sometimes the culprits of financial manipulation, it is more common for the abuse to come from people closest to the resident. 

How to Spot the Signs of Elder Financial Abuse

If you’ve noticed your loved one has experienced a significant, unexplained change in their financial status, it’s important to investigate the situation. If you have a loved one in a long-term care facility, it’s important to know the signs of elder abuse. Some of the signs of financial elder abuse include: 

  • The amount in their bank amount has significantly decreased
  • Unusual change in spending habits 
  • They are receiving letters from debt collectors or creditors for purchases they did not make.
  • Their credit card balance is much higher than normal. 

If you suspect your loved one is experiencing financial abuse, it’s important to take action. Start by talking to your loved one about the situation. Additionally, talk to the administration or ombudsman at the nursing home; they may be able to help you identify the perpetuator. If you feel like a crime has occured, it’s essential to contact the police and a nursing home abuse lawyer. 

Call an Expert Nursing Home Abuse Lawyer in New York City

If you believe that a member of your family is the subject of financial abuse in their nursing home, contact the trusted attorneys at Dalli & Marino. We’re a group of skilled attorneys dedicated to fighting for the rights of nursing home residents. We have an in-depth understanding of New York’s specific regulations and government healthcare and have been at the forefront of demanding change in the industry. 

At Dalli & Marino, we are committed to ensuring our clients receive fair compensation for the experience they endured. We have recovered millions of dollars for our clients since 1996. We approach each case on an individual basis and serve to help you or your loved one recover the money you need to compensate for your injury or illness. Give us a call at (888) 465-8790 or complete our contact form today.

 


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