Elder financial abuse in Virginia is a serious cause for concern

How big is the problem of elder financial abuse in Virginia?  The honest answer: nobody knows.

What experts suspect is that the problem is far worse than current estimates, and it may be getting worse as the economy continues to founder.  In addition, as the ‘baby boomer’ generation ages and becomes less mobile and more isolated, state and federal officials fear that they will become prey to scam artists and desperate family members.

One study by Met Life estimates that the financial loss from elder financial abuse is at least $2.6 billion.  However, it is probably more, a suspicion that is fueling concern from advocacy groups.  Why, you may be wondering, is the scope of this problem so hard to nail down?

One big reason is that often financial abuse is perpetrated by a family member or a friend.  In these situations, the elder may feel embarrassed or ashamed that they let somebody close to them take advantage of them.  Or, the elder may be worried about getting the police involved in a ‘family matter’.

Sadly, some elders fear that they will lose the only companionship they have if they put a stop to a friend or loved one’s financial exploitation.  Others have been threatened by perpetrators.  Because financial matters are often considered personal business, elder abuse and exploitation will continue to be underreported unless this issue get the attention it deserves.

If you suspect that an elderly person you know is being exploited financially in Virginia, you can take action.  If you would like to speak with a skilled nursing home abuse attorney, please contact the attorneys at Dulaney, Lauer & Thomas.  You can discuss your case confidentially with our experienced lawyers, for no cost or obligation.