When a California resident worries about someone exploiting their financial information, they often envision strangers and take extra precautions to make sure their personal information doesn't leak out to unknown individuals.
California residents may not be aware that the crime of the twenty-first century is being considered elderly financial abuse. Its become increasingly rampant among aging adults, especially those who have cognitive impairments such as dementia or Alzheimer's.
As people grow older, they become vulnerable in many ways. Even if they show no obvious, outward signs of illness or serious decline, they may be suffering from physical and mental decline. Unfortunately, there are unscrupulous people who seek to take advantage of such vulnerable adults, and their misdeeds may go undiscovered until after the elder person has passed away.
It's important to take care of the people we care about, family members and friends. When people in California get older, they don't always have the same capabilities to care for themselves as when they were younger. That is why it is important to be aware of our loved one's health and their abilities to care for themselves when they start getting older. If you are concerned a loved one could be suffering from financial elder abuse, read on.
Our elders will need loved one's help and assistance at some point. It's important to be helpful during this process, rather than a hindrance. There are laws in place to protect seniors and their estate. Because financial elder abuse happens, these bills that have been signed into law, hope to prevent it.
Elders can require care and attention at a certain point in their life. This can happen gradually over time, or suddenly in one single event, such as after an injury or illness. Often, family members suddenly realize that their relative is no longer able to account for their finances and independence like they once could. This can be an extremely emotional experience for everyone involved, and it can have serious financial consequences.
Financial exploitation of elder people in California and across the nation is a serious issue. Financial elder abuse is especially a concern for older individuals who suffer from cognitive impairments, which is why elder Americans and their family members should be familiar with these concerns.
Elder financial abuse can have very deep impacts. It can have major financial and emotional implications for its elderly victims. The financial ramifications of it can also last within a victim’s family for a very long time.