If you have a loved one who resides in a nursing home, you will know that they can be particularly vulnerable to many types of influence. Statistically, elderly people are more vulnerable to being manipulated financially. Sadly, people who are held in high trust can take advantage of their influence on the elderly person and engage in financial exploitation as a result.
Financial exploitation has been known to occur in nursing homes across the United States; therefore, it is a good idea that loved ones of nursing home residents are especially vigilant in this regard. If you are concerned about your loved one's financial situation, it is important that you take the time to understand the warning signs of financial exploitation.
What is a cause for concern in regard to financial exploitation?
There are some obvious red flags to look out for if you are worried about your loved one being financially exploited. This might include them becoming increasingly confused about how much money they have and where they have spent it. If the nursing home resident suffers from dementia or Alzheimer's, they may be especially vulnerable because this confusion could be masked behind their illness.
Some other warning signs could be present in their behavior. For example, if your loved one suddenly begins to hoard their possessions or become secretive about where they keep things, this could be a sign of a more serious issue.
It is important to be extremely vigilant of your loved one if you believe they are being manipulated. Make sure to take appropriate action if you have any concerns.