Have You Been Injured? We're Ready to Fight for You.

Financial Abuse of Elderly People: Know the Signs

Published on May 16, 2013 at 8:00 am in Nursing Home Abuse.

Kentucky Elderly Financial AbuseMost people who have elderly family members living in a Kentucky nursing home are familiar with the signs of physical or emotional abuse. However, elderly individuals are at a particular risk for a type of abuse that is less common among younger people: financial abuse.

Financial abuse involves the theft or conversion of money, property, or other valuables from an elderly person. It is often carried out by someone the elderly person trusts or someone responsible for caring for the person, like a nursing home staff member. Although financial abuse doesn’t leave physical or mental health damage, it is serious, and it can cause serious harm. An experienced Kentucky nursing home abuse attorney can help you determine if financial abuse is occurring, take steps to stop it, and seek restoration of any lost assets.

Signs of financial abuse may include:

  • The title of an elderly person’s assets is transferred to another person and the assets are quickly sold, especially if there is no longstanding relationship or the money is not immediately needed to care for the elderly person.
  • The balances of checking, savings, or investment accounts changes inexplicably, or charges appear on statements that cannot be explained.
  • The elderly person’s living conditions are well below what they should be, given the assets he or she should have.
  • Frequent checks or sums of cash are given to the caregiver or a financial professional, especially if investigation shows that the elderly person did not directly benefit in some way from the transfer.
  • Personal belongings are missing.
  • Caregivers are evasive when asked financial questions, insist on being present when financial matters are discussed, or begin to isolate the elderly person from family members and friends.
  • The elderly person takes out large, unexplained loans, or unexpected changes are made to the estate.

Meet Your Team

Tad Thomas - Trial Lawyer

Tad Thomas

Managing Partner

Tad Thomas has dedicated his practice to representing plaintiffs in various types of civil litigation, including personal injury, business litigation, class actions, and multi-district litigation.

After graduating with his law degree in 2000 from Salmon P. Chase College of Law at Northern Kentucky University, Mr. Thomas immediately opened his own private practice and began representing injury victims.

In 2011, Thomas Law Offices was established in Louisville, Kentucky. Over the past decade, Mr. Thomas has expanded his firm and now has offices in three additional locations: Cincinnati, Ohio, Columbia, Missouri, and Chicago, Illinois. He is also a frequent lecturer on topics like trial skills and ethics and technology.

Free Case Evaluation

At Thomas Law Offices, our personal injury attorneys recognize that our potential clients are likely going through some of the most difficult times of their lives. We don't want you to have to worry about paying out-of-pocket for legal advice when you're just starting to learn your legal rights and options. That's why we provide free case evaluations. We'll offer our expert advice about your potential case and walk you through how we can help you.

Call us or fill out the form below to tell us about your potential case and a personal injury lawyer will get back to you as quickly as possible.

Legal & Firm News

New York Nursing Homes to See 5% Profit Cap in 2022

Under a new budget established by Governor Andrea Cuomo’s office, all nursing home operators in New York will be required to return all profits in excess of five percent to the state beginning in January 2022.

Read More

End-of-Life Care and Your Rights in Illinois

As someone nears the end of their life—whether it be sudden or an expected decline, decisions will need to be made about allowable medical care, the person’s estate, and what their wishes are in terms of funeral services. While it’s normal for family members not to want to have those discussions, it’s imperative to have […]

Read More

University of Evansville Sued, Former Basketball Coach Accused of Sexual Harassment

A former student athletic trainer from the University of Evansville has filed a lawsuit against the Indiana institution, alleging sexual assault and a pattern of sexual harassment by a former basketball head coach.

Read More