The MetLife Mature Market Institute took the time to probe the issue of elder financial abuse, and they have found that annual losses are somewhere in the vicinity of $2.9 billion. It is actually quite difficult to determine the length and breadth of this problem because of the fact that it is not out in the open. People tend to keep their financial affairs private, and this plays into the hands of predators. Senior citizens often need help with their day-to-day needs, and as a result people … [Read more...] about MetLife: Elder Financial Abuse Losses Equal $2.9 Billion
Beware of Financial Predators
There are two prevalent types of elder financial abuse as defined by the experts: Crimes of opportunity and crimes of predation. Crimes of opportunity are perpetrated by individuals who know the victim. Obviously a lot of elderly Americans need assistance with their day-to-day needs. So, the individuals who help them out are often going to have opportunities to take advantage of the senior in question financially should they choose to go that nefarious route. Crimes of predation involve … [Read more...] about Beware of Financial Predators
Seniors Should Watch Their Finances Carefully
One of the major challenges that we face within the elder law community is the problem of elder abuse, and it exists in various different forms. The type of elder abuse that we would like to highlight here is elder financial abuse. The extent of elder financial abuse can be difficult to calculate because a high percentage of cases, perhaps the majority, go unreported. This is because many instances of elder financial abuse are perpetrated by people who are known to the victims, oftentimes … [Read more...] about Seniors Should Watch Their Finances Carefully
