Financial exploitation: the best kept secret of elder abuse

Financial exploitation: the best kept secret of elder abuse

SOURCE: Aging, Spring, 1996 by Health Care Industry
href="http://findarticles.com/p/search/?qa=A.">A. Paul Blunt

The injuries suffered by an older person from physical abuse or neglect are tragic, but there's a much less sensational and publicized form of elder abuse - financial exploitation - that can be equally devastating. When a relative or "friend" exploits an older person and manages to drain away savings and assets that have taken years to accumulate, from that point on, the elder's life style is severely diminished. Despite its devastating impact, financial exploitation seems to be the least understood of all forms of elder abuse. A review of the literature on elder abuse and neglect reveals that most books and articles spend little or no time on financial exploitation. In addition, most protective service agencies, which are charged with investigating financial abuse cases, do not adequately train their caseworkers to handle the problem. Usually, adult protective services (APS) caseworkers either are trained as social workers or come from other public service agencies that emphasize the caregiving or social services aspect of elder care. While this kind of background equips APS workers to deal with abuse or neglect cases, it does not provide them with expertise in investigating financial cases involving the transfer of monies and properties from incapacitated or vulnerable adults.
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Finally, there is an overall reluctance to report financial exploitation. Elderly victims may fail to report either because of their own incapacity or because of the stigma they feel would be attached to their being identified as a victim. An older person may also be reluctant to inform on a relative or caregiver who is exploiting because of emotional or psychological attachment to the person. Professional service providers, such as bank personnel, attorneys and health care workers often fail to report such cases either because they don't know which agency to call or because they adhere to a policy of strict confidentiality with respect to their client's affairs.
How Do You Recognize Financial Exploitation?
While the definition of financial exploitation varies among the states, the one most commonly cited is illegal or improper use of an elder's or incapacitated adult's resources for profit or gain. (This definition comes from A Comprehensive Analysis State Policy Related to Elder Abuse, published by the American Public Welfare Association/National Association of State Units on Aging in July 1986.) Service professionals should check their local laws to determine the precise definition used in their county or state.

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