Financial Abuse in a Nursing Home
We’ll show you the variety of ways that financial abuse in a nursing home can occur, from stealing to use of credit cards or getting residents to sign documents they don’t understand.
Financial abuse by a nursing home is the intentional use of a patient’s financial assets without personal or legal authorization. Nursing home residents may not have the mental capacity to handle their finances. Patients without a relative or trusted friend to monitor their finances may put them in the hands of the nursing home’s administration. While many nursing homes manage these finances responsibly, errors can be made and individual employees can act deceitfully.
The expansive definition of this act is when someone illegally uses a nursing home resident’s property, money, or assets. This can involve someone stealing personal belongings from the elder such as jewelry or other physical assets, or obtaining identifying information and misusing the elder’s credit or debit cards. It could even extend to having the patient draw up a new will or authorizing a disbursement of funds from their bank accounts when they did not understand what the transaction really was about.
This type of abuse in nursing homes also includes fraudulently executing a new power of attorney or signing over a deed. Patients may be tricked into approving changes in their financial accounts and wills, or these things may occur without them knowing they’re being taken advantage of.
A number of these acts require actions from a coherent mind and if the elder is not truly cognizant, the actions would be illegal.
Any type of fraud is a criminal act and should be reported to local law enforcement authorities.