How to Prevent Financial Abuse in Nursing Homes

When a loved one enters a nursing home, we expect that all their needs will be taken care of. They need the round-the-clock care and professional help a nursing home can provide. Sadly, many nursing homes commit many types of abuse, including financial abuse of the elderly.

Worse, they might not realize it if they have a cognitive impairment, or they might be too ashamed or frightened to speak out. While new regulations have been enacted to protect the elderly from this abuse, you’ll need to take further steps to protect your loved ones from harm. Follow these steps to guarantee they get the care they need.

Reach Out to Trusted Contacts

Many elderly residents suffer from disorders like dementia or Alzheimer’s, making it difficult for them to make financial decisions on their own. Otherwise, they might not notice that they’re being taken advantage of.

That’s why it’s so important that your loved one has a trusted contact for their finances. While many financial institutions are now requiring this, they need someone they can trust with their money. This person will have some access to their financial information, so they’ll know quickly if something is off about their finances.

Protect Your Accounts

While the access a trusted contact has can protect your loved one from abuse, you’ll also need to protect that information. Limiting the access others have to your loved one’s financial accounts can prevent financial abuse.

This means limiting or streamlining their accounts, as well as keeping all financial information confidential. Keeping them limited to a few key accounts can help, as well as shredding any unneeded documents or keeping them in a safer location. By limiting others’ access to their information, you can avoid some major sources of financial abuse.

Stopping Financial Abuse of Your Loved One

However, what if it’s already too late? Your loved one is being abused by the people meant to take care of them, and you’re not sure what to do first.

If you believe your elderly family member is being financially abused, have a nursing home abuse lawyer step in. Your loved one’s finances should be safe and stable, but when it’s not, you might need help securing it and getting their funds back.

While preventing financial abuse should be your priority, it might already be too late. However, an attorney can guide you through the fight to stop their financial abuse.

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