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Today we're talking about how to avoid the pitfalls of elder financial abuse. Elder financial abuse is a growing problem that can have devastating effects on the lives of seniors. Do you know the warning signs? These can include sudden changes in their financial situation, such as unexplained withdrawals or transfers of funds, a sudden decrease in their standard of living, or unpaid bills despite having sufficient funds.
Other warning signs may include a new caregiver or family member who seems to be isolating the senior from friends and family or who has taken control of their finances. Seniors who seem afraid or reluctant to speak openly about their finances may also be experiencing financial abuse.
Taking action is crucial if you suspect a senior is being abused financially. This may involve contacting adult protective services, speaking with an elder law attorney, or involving law enforcement. By being aware of the warning signs of elder financial abuse and taking action when necessary, we can help protect seniors from exploitation and safeguard their financial security.
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