Tragically, some nefarious souls take economic advantage of older relatives who are in compromised physical, emotional or mental positions. Whether you're a senior citizen or have one in your life, it is important to know what financial elderly abuse is all about, and how you can prevent and recover from it.
Not everyone deep into their retirement years is susceptible to elderly financial abuse, but the MetLife study found that women are twice as likely as men to be victims. Additionally, most are between the ages of 80 and 89, live alone and require some level of home or health care assistance.
"Elders who are sick or who have recently developed diminished capacity (stroke, paralysis, etc.) or those suffering from dementia, can be targets for financial abuse because it is easy for predators to exert undue influence.How to detect and prevent elderly financial abuse