Here’s an upsetting situation that comes up a lot, and may have come up for you: is someone financially taking advantage of Mom or Dad?
It’s a pretty legitimate concern to have. To begin with, most people know that there are plenty of “scammers” out there, phoning or mailing older adults with deceptive information designed to hoodwink them out of some of their savings.
But there’s actually another form of exploitation that may be more common, and is often harder for families to address.
That would be exploitation perpetrated by a someone the older person knows and has a personal relationship with.
Sometimes the person suspected of exploitation is relatively new to the older person’s life, such as a new romantic interest, friend, or paid caregiver.
In other cases, family members become concerned that someone in the family – such as one of the older person’s children – is beginning to take financial advantage of things.
Exploitation in the context of personal relationships is often especially tricky for families to address. The older person may be quite attached to – or otherwise feel dependent on – the person that others perceive as suspicious or problematic. Or there may be concerns about stirring up family dramas and conflicts, by voicing concerns about a sibling or another relative.
People are often unsure of what exactly constitutes illegal activity, and what can be done if they are concerned about financial exploitation.
So in this article, I’ll cover the key things you should know, so that you can better evaluate and address a worrisome situation, should one arise.
Specifically, in this article I’ll explain:
