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.