Financial Exploitation of the Elderly

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Financial Exploitation of Elderly Persons

A great deal of responsibility and trust is given to those who care for the elderly. Sadly, some caretakers, fiduciaries or even other family members abuse this responsibility. It's always disheartening to see elders who worked very hard their entire life, achieved so much to enjoy their later years only to get taken advantage of by their caretakers or fiduciaries.

If you believe that your loved one is the victim of financial exploitation by their caregiver, guardian or even a close family member, Stawicki Law Office can help you bring legal action against the responsible party.

Elderly Exploitation of Elderly Persons - Stawicki Law Office

What is Financial Exploitation of the Elderly?

Financial exploitation of the elderly occurs when a person in a position of trust misuses that position of trust to improperly acquire assets or by being named a beneficiary on a transfer on death account, will or trust. This type of financial exploitation usually occurs between a vulnerable adult over 60 years old with reduced mental capacity and a trusted caregiver or adult child who uses their position of trust to deprive the elderly person of critical financial resources and alter their estate plan.

Common Types of Elderly Financial Exlpoitation

Assets are commonly taken by means of deception, false pretenses, coercion, harassment, duress and threats.
Below are the most common forms of financial exploitation the elderly are most vulnerable to:


Occurs when assets are taken without authorization. Can include: cash, valuables, investments, medications or other personal property.


Involves acts of dishonesty such as falsification of documents, forgeries, unauthorized check-writing, fake telemarketing calls, Ponzi-type financial schemes and fraudulent injury scams.

Undue Influence

Criminals who financially exploit the elderly use malicious intentions to manipulate the elderly into giving them their assets. Usually, the exploiters do this by convincing the elderly person they have too many assets while the exploiter has too little or are not managing their assets wisely and therefore would be better off without control of their assets.

Insurance Scams

Involves the selling of inappropriate products such as a thirty-year annuity for a very elderly person. Can also include unauthorized trading or beneficiaries of life insurance policies.

Signs of Elder Financial Abuse & Exlpoitation

Those looking to abuse the elderly look for individuals who are vulnerable, and in order to stop it on time, one must be aware of their wellbeing and financial health. Abusers can be anyone from a caretaker, family members, to complete strangers.
Signs of elder financial exploitation can be:  

Significant changes on wills, trusts and other important legal documents

Large withdraws from bank accounts

Pilling of unpaid bills

Being left alone more often

Giving-away money or spending promiscuously

Transferring assets to “friends” assisting with finances

Be Vigilant & Take Action

The most susceptible are mentally or physically disabled, isolated, or recently widowed.
If you suspect your loved one is a victim, contact Stawicki Law Office as soon as possible.

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