Locations Throughout

Financial Elder Abuse

  • Home
  • /
  • Financial Elder Abuse

Financial Elder Abuse

Attorney for Seniors and Families in California

The National Center on Elder Abuse recently conducted a study which revealed that one in ten elderly Americans has reported suffering from elder abuse within the last year. Based on their interviews, these victims often suffered from more than one form of elder abuse. According to the World Health Organization, elder abuse is a violation of a basic fundamental human right – to be free and safe from violence. When it comes to elder abuse, financial abuse is generally more common than physical abuse. Our California Attorneys can offer you, or your loved one legal guidance if you are a victim of elder abuse.

Elder Law Research Findings

A study conducted recently by MetLife Mature Market Institute found that direct costs associated with elder financial exploitation were approximately $2.9 billion in 2009. When compared to 2008, this figure represents a 12% increase. This study, in accordance with other research, determined that there are more female victims of financial elder abuse than male victims. It was also found that the most common perpetrators are close to the elderly victim, such as family members or close friends.

As more research is done on the topic of financial elder abuse, it has become apparent that there are more instances of elder financial abuse than earlier research would indicate. According to the MetLife Mature Market Institute’s research, the highest rate of any form of elder abuse is financial abuse, with an estimated rate of 41 out of 1,000 elderly individuals experiencing this type of abuse. This figure represents about 4% of elderly individuals. Making this finding even more alarming, due to underreporting, this figure is likely even higher.

Forms of Financial Elder Abuse

Financial abuse of the elderly can be dehumanizing, as this type of abuse typically violates a close, trusting relationship of the elderly individual. Some of the most common forms of elder financial abuse are:

  • Emotional Manipulation
  • Threats
  • Deceit

A perpetrator of elder abuse will typically take ahold of their elderly victim’s financial assets through deception. As a result, the victim may be left completely penniless and will also lose a close relationship with a trusted family member or friend. Additionally, the elderly victim may suffer even further, as it is not uncommon for the perpetrator to commit sexual or physical violence as a means to accomplish financial gain.

If you or a loved one has been a victim of elderly financial abuse, contact the Peck Law Group right away. At our firm, we have successfully filed civil cases against these types of predators to recover financial assets for the elderly victims.

Many times, criminally prosecuting financial elder abuse cases can be tough, especially because the elderly victim may not remember major details of what happened, or may want to protect the relative who has harmed them. In these cases, a civil action can be filed to hold these predators accountable and recover stolen funds. If you need legal guidance, you can count on our firm. Contact us at your earliest convenience to discuss your potential financial elder abuse case by filling the form out on our contact page or by calling 866-999-9085.



Practice Area Attorneys

Free Consultation

*Please do not include any confidential or sensitive information in this form. This form sends information by non-encrypted e-mail which is not secure. Submitting this form does not create an attorney-client relationship. For more information, please read our Privacy Policy.

Bar Memberships and Affiliations

The Peck Law Group stays up to date and in touch with the legal community through various memberships and affiliations.