How to Protect Your Loved Ones from Elder Abuse

Elder financial abuse is when someone takes or misuses an older adult’s money or property. While this can happen to anyone, there are a few simple steps you can take to help keep your loved ones safe.

Start the Conversation Early

It’s important to start planning while your loved one is still mentally sharp. Encourage them to name someone they trust as their power of attorney, giving that person the legal authority to make financial decisions for them if they become unable to. It’s also a good idea to help them write down their financial wishes so there’s no confusion later.

Talk About Scams

Make sure your loved ones know that they should never share personal or financial information to someone reaching out over the phone or through email. Encourage them to check with you if they receive any suspicious messages or calls, so you can help assess the situation and take the right steps to help.

Stay Connected

Regular check-ins—whether it’s a phone call, visit, or even a quick email—can make a big difference. Not only does it help them feel connected, but it also gives you a chance to notice if anything seems unusual in their behavior or mood.

Get to Know Their Caregivers

If your loved one has a caregiver, take time to build a relationship with them. Staying involved and informed helps create a supportive environment for everyone where your loved one is safe. It’s also wise to monitor payments made to caregivers or agencies to ensure they are consistent and accurate.

Keep an Eye on Finances

Consider becoming an authorized user or joint owner on your loved one’s bank or investment accounts. This allows you to keep an eye on transactions and spot any unusual withdrawals or spending patterns. Setting up direct deposit for checks can also help by reducing the risk of someone else gaining access to their funds.

Be Cautious with Paperwork

Encourage your loved one never to sign anything they don’t fully understand. It’s also a good idea for them to request all financial offers in writing and to review these documents with you or another trusted individual before making any commitments.

Protect Their Technology

If your loved one uses a computer, tablet, or smartphone, make sure their software and security systems are regularly updated to protect against cyber threats. You might also consider investing in identity protection services that include credit monitoring and fraud alerts, providing an extra layer of security.

If you think that an older adult is being financially abused, don’t hesitate to act. Report your concerns to Adult Protective Services (APS) in your state, local law enforcement, and the individual’s financial institution. Many communities also offer support through senior advocacy groups and hotlines that can provide guidance and assistance.