Risk Factors

Here's a list of risk factors that your elderly family member may be at risk of financial exploitation and abuse from those around him or her. Also, characteristics of male and female abusers, and signs that a person may be suffering abuse. Hindsight is 20/20, and looking back gives me the chills on how much of this is exactly true from our situation. Please heed these warnings and signs. (Following excerpts from article by the National Center for State Courts. Click here for PDF article.)

"Factors Predisposing to Financial Exploitation

• Advanced age (> 75)
• Female
• Unmarried/widowed/divorced
• Organic brain damage
• Cognitive impairment
• Physical, mental, or emotional dysfunction (especially depression)
• Recent loss of a spouse or divorce
• Living with abuser
• Dependence on abuser
• Living alone
• Social isolation
• Estranged from children
• Financially independent with no designated financial caretakers
• Middle- or upper-income bracket
• Taking multiple medications
• Frailty
• Fear of change of living situation (ie, transfer from home to institution)
• Implied promise by perpetrator to care for elderly person if funds or material goods are transferred
• Elderly person subject to deception (misrepresentation/concealment of information for selfish gain)
• Elderly person subject to intimidation (perpetrator induces dependency with fear of rejection if demands not met, or creates fear by threat of physical or emotional harm or abandonment)"

"Characteristics of Male Perpetrators who Exploit Elderly

• Sociopathic or antisocial character disorder
• Developing a caregiver role
• Living with victim
• Being economically dependent on victim
• History of mental illness or substance abuse
• Often related to victim
• Has health problems"

"Characteristics of Female Perpetrators who Exploit Elderly

• Has some caregiving relationship to elderly person
• Instills sense of helplessness and dependency
• Isolates the elderly person from family members and other social contacts
• Presents herself as protector of the elderly victim while isolating them from others
• Enhances inadequacy and diminished self-worth in victim, making him or her more vulnerable
  
• Often has history of multiple unstable relationships
• Often falsifies credentials or embellishes personal power, role, or position
• Opportunistic
• Psychologically dysfunctional
• Predatory
• Antisocial with little regard for rights of others
• Methodically identifies victims and establishes power and total control over them
• Gains control of assets through deceit, intimidation, and psychological abuse"

"Signs and Symptoms Suggesting Undue Influence

• Elderly person’s actions inconsistent with past longstanding values/beliefs
• Older person making sudden changes in financial management that enrich one individual
• Elderly persons changing their will or disposition of assets, belongings, property, and direct assets toward one who is not natural “object of their bounty”
  
• Caretaker dismisses previous professionals and directs older person to new ones (eg, bankers, stockbrokers, attorneys, physicians, realtors)
  
• Elderly person isolated from family, friends, community, and other stable relationships
• Nonfamily caretaker has moved into the home or taken control of daily schedule
• Older person directs income flow to caretaker (eg, Social Security, pensions, trust distributions)
• Wills, living wills, trusts altered with new caretaker or friend as beneficiary/executor
• Elderly person develops mistrust of family members, particularly about financial affairs, with this view supported by new friend, acquaintance, caretaker
  
• Older person finds new caretaker guaranteeing lifelong care if he or she gives the caretaker his or her assets
• Elderly person in relationship characterized by power imbalance between parties, with caretaker assuming restrictive control and dominance
  
• Caretaker or friend accompanies elder to most important transactions, not leaving him or her alone to speak for himself or herself
  
• Elderly person writes checks for cash, in round numbers or large amounts, or gives cash gifts to caretaker or caretaker’s family
  
• Older person increasingly helpless, frightened, despondent, feeling that only the caretaker can prevent his or her further decline
  
• Elderly person sees acquaintance or caretaker as exalted, with unusual powers or influence"