1.7 What is Elder Financial Abuse?

What is Elder Financial Abuse?

  • Illegal, unauthorized, or improper use of an elder’s money, benefits, belongings, property, or assets for the benefit of someone other than the older adult.
  • Examples include:
    • Forging checks.
    • Taking their retirement or Social Security benefits.
    • Withholding access to money or financial information.
    • Changing names on a will, bank account, life insurance policy, or title without permission.
    • Using a person’s credit cards and bank accounts without their permission.
    • Ignoring or avoiding an older adult’s financial responsibilities (e.g., paying rent/mortgage).
    • Healthcare fraud.
(CDC, 2021; NIA, 2023)