Tennessee Nursing Home Abuse Attorneys Share Tips for Protecting Your Loved Ones’ Finances This Holiday Season

By Thomas Greer | November 10, 2014

The holiday season is upon us, and for some people it is a season of finances that won’t stretch far enough to pay the bills, put food on the table, and put gifts under the tree. The added financial stress of the holiday season often triggers an increase in thefts of all kinds, and senior citizens are unfortunately easy targets for multiple types of financial abuse.

Older adults who live in nursing homes, as well as those who have caregivers visiting them in their homes are at risk for financial abuse. Older adults who live independently and who do not receive services from caregivers are also at risk. Fortunately, you can help to ensure that your elderly relatives do not fall prey to theft or other types of financial abuse this holiday season.

Most nursing home staff do the work that they do out of a genuine desire to provide safety and comfort to older adults, but there are some who seek caregiving positions because that work places them in close proximity to people whose finances can easily be taken advantage of.  The ways in which they do that vary from making up sad stories about their financial position and asking to “borrow” money that they never intend to repay or stealing credit or debit cards from nursing home residents’ personal belongings to convincing nursing home residents that the residents need help managing their finances and gaining control over their assets that way or by convincing them to grant them a power of attorney.

To prevent financial abuse in a nursing home setting, visit your relative regularly so that staff see that family members are actively involved in his or her life. This makes your relative less likely to be selected as a potential victim. Also, have a private conversation with your relative about how they feel about their finances and whether they would like you to help them. If no caregivers are in the room, your relative may confide in you about whether there have been any strange occurrences regarding their finances. Talking with your relative can also help you assess their level of awareness of their financial goings on.

If there are older adults in your family who live independently, it is important that you remain in close contact with them, as well. Caregivers and others who wish to obtain money from older adults choose victims whose family and friends are not present in their lives on a regular basis. Get to know your relative’s caregivers, friends, and neighbors, in case people with dishonest motivations are attempting to form relationships with them. Talk to your elderly relatives frequently about their finances, to make sure that they have everything that they need and that they are feeling in control of their financial situation. If you notice unpaid bills lying around the house, ask them about it in a non-confrontational manner. By keeping close watch on their situation, you may be the first to notice signs that something is amiss, either because your relative is beginning to have trouble managing their finances on their own or because someone has been involved with their finances that should not be.

This holiday season, stay close to your loved ones and enjoy their company as you take steps to safeguard their health and their physical, financial, and emotional well-being. If you encounter evidence of any form of abuse or neglect, call the Tennessee Nursing Home Abuse and Neglect Attorneys at Bailey & Greer, PLLC right away, at 901-680-9777.

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