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5 Ways to Avoid Financial Nursing Home Abuse

Financial nursing home abuse is a problem elderly adults commonly face. While this type of abuse can affect adults of all ages, elderly residents of nursing homes are especially susceptible and highly at risk due to different factors such as health conditions like dementia. It is estimated that in 2018 alone, New York elderly victims suffered 109 million dollars in losses. The suffering due to financial abuse extends beyond monetary loss for many victims. 

Financial abuse is the fraudulent, illegal, and unauthorized use of a person’s assets, such as money, benefits, and personal property, for their own gain. Financial nursing home abuse can be especially devastating in cases where the abuse is committed by trusted family members, friends, or caretakers. If you have experienced financial abuse in a nursing home, speak with a New York nursing home abuse lawyer promptly for an assessment of your case and legal guidance surrounding your next steps. 

Signs of Financial Nursing Home Abuse in New York 

The reasons why your loved one may benefit from round-the-clock care at a nursing home are some of the same reasons as why they are more susceptible to financial nursing home abuse. Health conditions can make elderly adults completely dependent on caretakers. In instances of cognitive decline, residents are 50% more likely to experience any type of abuse, including financial exploitation. 

It is essential to recognize the signs of financial nursing home abuse so that you may better protect your loved one. The following are signs that may indicate some form of financial exploitation: 

  • Financial activity on your loved one’s bank statements that they could not have done themselves. 
  • A new person in your loved one’s life who shows interest in your loved one’s affairs, rights, and monetary possessions.
  • Random or unexplained transfers of assets to another individual.
  • Changes in your loved one’s will, financial documents, bank accounts, or financial practices.
  • Mounting unpaid bills that were previously paid on time.
  • Fraudulent signatures on checks and financial documents.
  • Missing valuables or money.

There is an overwhelming majority of financial nursing home abuse cases that go unreported. For every case that is documented in New York, 44 go unreported to authorities. If you suspect that your loved one is being financially exploited and abused, speak to a New York financial nursing home lawyer for a chance to obtain accountability and compensation for your devastating losses. 

5 Ways to Avoid Financial Nursing Home Abuse in New York 

Fortunately, there are ways that you can help your loved one avoid being financially exploited and financially abused. The following will help diminish the risks and overall help your loved one’s quality of life in a nursing home: 

  1. Meticulously select a caregiver. Do a background check and screening process. 
  2. Inventory all important assets like jewelry and take pictures in case of theft. 
  3. Secure incoming and outgoing mail to avoid mail theft.
  4. Authorize your bank to send bank statements to you or trusted financial advisors. 
  5. Shred personal information to avoid stolen identity. 

There are many ways to safeguard against financial exploitation and financial nursing home abuse. If your loved one has experienced financial nursing home abuse, speak to a skilled New York financial nursing home abuse lawyer for a chance to hold the abusive parties responsible and to recover compensation for the terrible losses you have endured.  

Speak With an Experienced Financial Nursing Home Abuse Lawyer at Dalli & Marino 

If you suspect your loved one has been a victim of financial nursing home abuse, speak to a seasoned lawyer at Dalli & Marino for a thorough investigation of your claim and a chance to hold the abusive party accountable for their actions. We are dedicated to adamantly protecting your legal rights and obtaining justice on your behalf. We recognize how rampant financial exploitation of the elderly is and have an in-depth understanding of the legal complexities pertinent to a successful case. 

The legal team at Dalli & Marino has years of experience helping victims recover compensation for the terrible losses they have endured. We have recovered millions of dollars for New York victims and are dedicated to helping you get the justice you deserve. Call us today at (888) 465-8790 for a complimentary consultation or complete our contact form. We also speak Spanish. 

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