Nursing home financial abuse is one of the most common forms of elderly neglect or mistreatment. Through such kind of abuse, nursing home employees or caretakers can create financial trouble by stealing a resident’s identity or stealing from them. Financial abuse in a nursing home is a form of fraud or theft that elderly are subjected to during their stay in elderly care facilities. A staff member or caretaker can cozy up to an elderly resident to get money, jewelry, or even a power of attorney.
According to a study conducted by the MetLife Mature Market Institute and National Committee for the Prevention of Elder Abuse, elderly financial abuse may cost victims an astounding $2.6 billion each year. Our firm files lawsuits for Kentucky nursing home residents that find themselves or their loved ones victims of financial abuse.
What is Financial Abuse in Nursing Homes?
Elderly financial abuse is a form of Kentucky nursing home neglect, wherein a caregiver improperly or illegally uses the resident’s assets, funds, jewelry, or property. The elderly are in a unique position to be vulnerable to deceptive practices and become victims of such abuse, as most of them may not be aware of such activities taking place behind their backs. Kentucky nursing home neglect includes financial scams and schemes by nurses, employees, staff and administration.
The elderly in nursing homes are often targets of nursing home financial abuse, as they are not likely to notice immediately that they have been victimized or that something has been stolen. What’s more, a nursing home resident may be hesitant to speak up about the financial abuse because of their dependent status.
Financial Abuse Examples
A victim can file a nursing home financial abuse lawsuit in any of the following cases:
- Forging a resident’s signature for titles or possessions
- Illegally cashing a resident’s checks
- Illicit and improper use of power of attorney and guardianship
- Stealing a resident’s money, assets, or personal belongings
- Unexpected bank withdrawals
- Theft of personal belongings from the resident’s possession
- Coercing a resident to sign legal documents
- Financial exploitation of residents
- Stealing a resident’s medical equipment or drugs
Financial Abuse in Nursing Homes
Unfortunately, more than 500,000 elderly persons suffer from financial abuse every year, costing them almost $3 billion annually. As one of the biggest financial fraud cases in America, elder financial abuse has assumed grave proportions as baby boomers reach retirement age. The aforementioned study forewarns that technological advancement, aging of the population, and social changes may cause a significant rise in the number of elderly financial abuse cases, and an increasing number of the elderly may be victims of financial exploitation.
Sadly, a number of nursing home residents are suffering from financial abuse, which often takes an emotional toll on the elderly, especially if perpetrated by a caretaker whom the resident had been trusting thus far. A victim of nursing home financial abuse has the legal right to hold the guilty accountable through a legal claim under the guidance of a nursing home financial abuse attorney Kentucky.
To know more about your legal options to sue a nursing home for financial abuse, call us toll free at 1-866-447-0150 or contact us online to speak with our expert Kentucky nursing home financial abuse attorney.