I’ve spent too many sleepless nights worrying about the way my sister is misusing Mom’s funds and jeopardizing Mom’s future wellbeing.”Like others who reported stories of the financial abuse of elderly family members, she asked for anonymity. We’re worried Mom won’t have enough money to live on.”As the Jones family is learning, financial abuse can be difficult to detect, report, and investigate. Forbes Advisor reports that one in ten Americans over the age of sixty has experienced abuse—and that includes financial abuse. You trust your relatives to do what is right when it comes to the physical and financial care of your parents. However, National Center on Elder Abuse suggests that only one in 24 cases of elder abuse are reported to authorities.

Source: Forbes May 09, 2024 02:32 UTC