How can families detect nursing home financial abuse?

On Behalf of | Jan 20, 2025 | Nursing Home Injuries |

Financial exploitation in nursing homes can devastate residents and their families. Identifying the warning signs early can help protect loved ones and prevent further harm. Families should stay vigilant and recognize potential red flags that indicate exploitation.

Unexplained financial transactions

Monitor financial accounts for sudden or unusual transactions. Frequent ATM withdrawals, checks made out to unknown individuals, or large transfers may signal financial abuse. Families should also question any sudden changes to banking patterns or credit card charges that seem out of character.

Changes in legal or financial documents

Be cautious if a resident’s legal or financial documents are suddenly altered. Changes to wills, powers of attorney, or property deeds without a clear explanation may suggest undue influence from within the nursing home. Keep an eye out for new legal representatives or unexpected changes to beneficiaries on accounts or insurance policies.

Missing belongings or funds

Residents’ personal belongings, cash, or valuable items going missing can also be a sign of exploitation. Families should take inventory of valuables and check for unexplained losses. Regular visits and communication with nursing home staff can help address any discrepancies quickly.

Increased isolation from family

Isolation can be a tactic used by exploiters to limit oversight. If a resident becomes difficult to contact or is discouraged from communicating with family, it may signal financial manipulation. Families should prioritize open communication to ensure loved ones feel supported and safe.

Unexplained relationships

Close relationships with staff or other residents that lead to financial gifts or loans should be carefully scrutinized. While some bonds may be genuine, exploiters often use personal connections to gain access to funds.

Families can prevent financial exploitation by maintaining regular oversight of finances, setting up alerts for unusual account activity, and consulting trusted legal or financial professionals. Staying informed and proactive is essential to safeguarding a loved one’s assets in a nursing home environment.