{"id":5683,"date":"2025-09-23T08:43:59","date_gmt":"2025-09-23T08:43:59","guid":{"rendered":"http:\/\/localhost\/AIS\/AIS\/2025\/09\/23\/financial-elder-abuse-how-to-address-and-recognize-it\/"},"modified":"2025-09-23T08:43:59","modified_gmt":"2025-09-23T08:43:59","slug":"financial-elder-abuse-how-to-recognize-and-address-it","status":"publish","type":"post","link":"https:\/\/tst.wordpress.realogydev.com\/terracoastalescrow\/financial-elder-abuse-how-to-recognize-and-address-it\/","title":{"rendered":"Financial Elder Abuse: How to Recognize and Address It"},"content":{"rendered":"

August 21 is World Senior Citizen’s Day, which is a time to acknowledge the contributions of older citizens to society. But, as recent surveys reveal, it is also a time to face and deal with the vulnerability of the elderly.<\/p>\n

Older Americans who are exploited by family and fraudsters lose an average of $34,200 annually, according to the U.S. Consumer Financial Protection Bureau (CFPB). A survey by TrueLink, which provides account-monitoring software for elders and their families, projects that financial elder abuse accounts for as much as $36 billion in losses per year.  <\/p>\n

Sadly, the main perpetrators of financial abuse of the elderly can be relatives, spouses, or someone else a senior relies upon, who may siphon off money or property from the older person without their knowledge, understanding, or consent.          <\/p>\n

It can be as simple as forging a signature or as complex as gaining power of attorney or guardianship or getting hold of a deed to property.<\/p>\n

While REALTORS® are not typically privy to complex family dynamics, there are several ways to spot signs of financial abuse when dealing with an elderly client, according to AARP consumer advisors, whether or not the client seems cognitively impaired:<\/p>\n

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  1. A caregiver or someone else who shows excessive interest in your client’s affairs.<\/li>\n
  2. A caregiver or someone else who refuses to allow you to see the client alone.<\/li>\n
  3. Changes in the client’s bank accounts or other documents that the client seems unaware or confused about. <\/li>\n
  4. Suspicious signatures that do not seem to match those on other documents.<\/li>\n
  5. The sudden appearance of previously uninvolved relatives claiming rights to the client’s affairs and possessions.<\/li>\n<\/ol>\n

    It’s understandable, even if you believe an elderly client is being financially exploited, to be hesitant about reporting it. But there are three simple things you can do:<\/p>\n