Articles Tagged with Financial Abuse

Undue influence occurs when a dominant person replaces their will for the will of a dependent and vulnerable person for their own personal gain. Money is usually the motive behind this type of abuse. And most commonly this type of abuse occurs with the elderly and disabled. This is because the elderly and disabled are more susceptible and vulnerable than others. A lot of times they rely heavily on others for daily assistance and are more trusting in nature. The relationship is more than just persuasion, it is a psychological control and the relationship holds many similarities to domestic violence. One of the key factors in gaining this type of control is by isolating the weaker person.

Identifying this abuse can be difficult, below are several examples of how this abuse may appear.

  1. The victim takes actions that are contrary to his or her previous habits, values or beliefs. This could be signing documents, changing estate plans, and the like.

As we age it is foreseeable that our abilities and mental functioning will degrade. Many of us will need some type of assistance later in life. Often, the assistance needed is with finances and payment of bills.

Since we know that this need is likely to arise, it makes sense to plan for it in advance instead of simply hoping for the best.

Having a plan in place to deal with future incapacity is the best way to protect against the loss or misuse of your funds. In most cases, the financial abuser/exploiter is a family member or other person known to you. By the time help is needed, you are no longer able to protect yourself.