Elder Financial Abuse

How to Recognize Financial Abuse

1. Transactional Elder Financial Abuse Indicators

  • Investments in unsuitable financial products, time shares, or real property   
  • Larger than necessary loans against home equity to finance investments
  • Inappropriate banking activity such as unusually large checks or withdrawals from automated banking machines
  • Signatures on checks that do not resemble the elder’s signature
  • Legal documents signed when the elder is physically incapable of writing
  • Checks written out to “cash” being negotiated by caretakers
  • Checks signed by the senior but filled out by someone else
  • A surge of activity in accounts which have been static for years
  • Expensive gifts made by the elder
  • Checks or credit card transactions made out to direct mail or telemarketing promotions
  • Contributions going to newly formed religious or non-profit causes
  • Correspondence indicating the elder has won or will soon win a prize
  • Threatening correspondance proporting to be from the IRS or a government agency demanding immediate payment under the threat of being arrested for non-compiance


Annuity Basics

There are many types of Annuities An Annuity is a purchased insurance policy that pays a fixed amount of benefits. Most annuities are “immediate” annuities that pay fixed monthly amounts for the life of the person who is entitled to those benefits, or for a determined period of time, e.g.