Financial Abuse

Financial or material exploitation is defined as the illegal or improper use of an elder/dependent adult's funds, property, or assets. Examples include:

Cashing an elder/dependent adult's checks without authorization/permission
Forging an elder/dependent adult's signature
Misusing or stealing an elder/dependent adult's money or possessions
Coercing or deceiving an elder/dependent adult into signing any document (e.g., contracts or will)
Misusing conservatorship, guardianship, or power of attorney.

Signs and symptoms of financial or material exploitation include (but are not limited to):

Sudden changes in bank account or banking practice, including an unexplained withdrawal of large sums of money by a person accompanying the elder/dependent adult
The inclusion of additional names on an elder/dependent adult's bank signature card
Unauthorized withdrawal of the elder/dependent adult's funds using their ATM card
Abrupt changes in a will or other financial documents
Unexplained disappearance of funds or valuable possessions
Substandard care being provided or bills unpaid despite the availability of adequate financial resources
Discovery of an elder/dependent adult's signature being forged for financial transactions or for the titles of his/her possessions
Sudden appearance of previously uninvolved relatives claiming their rights to an elder/dependent adult's affairs and possessions
Unexplained sudden transfer of assets to a family member or someone outside the family
The provision of services that are not necessary
An elder/dependent adult's report of financial exploitation