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Financial Elder Abuse Is on the Rise, Elder Law Attorney, Woodstock, GA


About 52% of elder financial abuse victims say they were taken advantage of by a family member. Financial abuse of older adults may be far more common than many people realize. About 5% of people 65 and older say they’ve been the victim of financial abuse, but that percentage is probably an underestimate, a new survey suggests.

A recent article in USA TODAY, titled “Retirement: Financial abuse costs victims avg. $30,000”, reports that 19% of people ages 40 to 64 say they have an older family member or friend who has been the victim of elder financial abuse. This is according to a survey of 2,248 U.S. adults ages 40 and older conducted for Allianz Life. Elder financial abuse is defined as when someone takes advantage of an older person. This can include using their money improperly or without their consent or taking it for personal gain.

The original article estimates that about 52% of elder financial abuse victims report that they were taken advantage of by a family member, a friend, or their caregiver, with 22% saying it was a stranger. Others say it was the work of companies, churches, salesmen and other individuals.

Can you believe that the average amount lost is about $30,000, with 12% report missing over $100,000? Financial abuse can lead to shame and embarrassment on the part of the victims— a reason they tend not to report it, and there is a natural reluctance to report a family member or friend, along with a disbelief that it is happening.

Speak with a qualified elder law attorney to get more information about elder abuse and the answers and care you need.

Reference: USA TODAY (October 15, 2014) “Retirement: Financial abuse costs victims avg. $30,000”

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The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

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I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

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