Nursing Home Financial Abuse Is A Growing Problem In North CarolinaThe red flags of nursing home physical abuse and neglect can be written on your loved one in bedsores, bruises, and broken bones. But nursing home financial abuse can ruin a lifetime of your loved one’s hard work without showing any outward signs. However, if you keep a careful eye on your loved one’s finances after they are placed in an assisted living facility and look for possible instances of financial abuse, you can help protect your loved one and prevent elder financial abuse and scams. Here are a few warning signs:
• Your loved one is missing valuable personal items, such as a wedding ring, antiques, or family heirlooms.
• Your loved one has a new “friend” in the nursing home, such as a staff member, that doesn’t seem to benefit the other person or that seems suspicious.
• Your loved one isolates themselves from family and friends.
• Your loved one has missing financial documents, such as stock or bonds.
• Your loved one changes the names on property titles or bank accounts.
• Your loved one suddenly updates their will.
• Your loved one changes their financial activity suddenly.
• Your loved one suddenly changes their Power of Attorney.
• Your loved one stops communicating with you regarding financial matters.
The best way to prevent elder financial abuse is to keep an active and open relationship with your loved one. Lonely or confused seniors are much more likely to fall victim to financial abuse – keeping your elder loved one in your plans and in your thoughts are the first step toward making sure your loved one is safe from schemes. Looking for red flags and keeping tabs on the nursing home staff is the second.