Many times nursing home residents are not only hurt physically, but emotionally, too. Financial abuse seems to be playing a huge role in damaging the morale of the elderly. In various ways the elderly are experiencing theft and according to a survey by CPA financial planners, it hurts them emotionally far more than financially. According to a recent poll it was found that over two thirds of residents said that they could not refuse giving their families money and gifts. Over one half of residents were found to be the primary supporters of their adult children who are able to support themselves. Also over two thirds of residents were found to have been tricked into giving money to phone and internet scams and half of those residents’ identities were stolen.
The financial abuse that happens to the elderly make them feel helpless. There are services that have “planners” to help the elderly with their money in order to ensure their financial stability. These planners are wisely being advised to check into their clients surrounding supporting people around them such as spouses, families, and any other loved ones because those are the people who are often caught taking advantage of the money of the elderly. For more, read the story.
