#MIDDLEBURY
By Matilda Charles
The statistics on elder financial abuse are ugly. Abuse victims lose roughly $2.6 billion per year. One in every 20 seniors admits to being the victim of financial abuse, but only one in every 44 cases is reported.
In the online blog “Recognizing Signs of Elder Abuse (and Traits of Elder Abusers),” attorney Will Sleeth lists the ways abusers can put pressure on seniors to change their estate plans. They can include bullying, isolating and threatening. The tactics and suggested investments from a financial abuser might sound a bit off as well, such as an anonymous investment club.
Characteristics of the abusers themselves can be surprising. They’re often educated, sophisticated and well off. Sometimes they’re convicted felons, or attorneys or doctors who lost their licenses to practice. Mostly, however, they’re socially isolated, having few friends or social contacts. That’s where the Internet can be handy.
Many states have court case search features in their online judicial record systems. These are searchable by location, date … and name. Anyone who is a financial abuser of seniors likely has done it before, and there will be a record of previous court cases and lawsuits. For more information, check Sleeth’s site (estateconflicts.com) and read more of the articles he’s written.
The National Committee for the Prevention of Elder Abuse (www.preventelderabuse.org) has a large section on financial abuse. Financial scammers can sink so low as to read newspaper death announcements to identify those who are recently widowed and therefore vulnerable.
If you’ve been the victim of financial abuse, or think someone is trying to scam you, speak up. Call the police. Call your bank and ask to speak to the manager. You can be protected.
(c) 2016 King Features Synd. Inc.
