Financial exploitation is a growing problem for seniors and those with a power of attorney. As a result, it is important to be aware of the red flags that may indicate financial exploitation is occurring.
One of the most common red flags of financial exploitation is unusual behavior. If the person with the power of attorney is acting out of character or making decisions that seem out of character, this could be a sign of financial exploitation. For example, if the person with the power of attorney is suddenly giving away money or transferring assets to people they don’t know, this could be a sign of financial exploitation.
Another red flag of financial exploitation is unusual spending behavior. If the person with the power of attorney is suddenly spending large amounts of money on items they wouldn’t normally purchase, this could be a sign of financial exploitation. Similarly, if checks are being written to cash or the unexplained disappearance of cash or property, this could be a sign of financial exploitation.
It is important to be aware of these red flags and to take action if you suspect financial exploitation is occurring. If you are concerned that financial exploitation is occurring, it is important to contact the appropriate authorities and to take steps to protect the person with the power of attorney.
By being aware of the red flags of financial exploitation, you can help protect those with a power of attorney from becoming victims of financial exploitation. Remember, if you suspect financial exploitation is occurring, it is important to take action and to contact the appropriate authorities.
13 Sep 2022
