There are several ways in which the elderly can protect themselves from financial elder abuse.
- Call for help
If the seniors are being exploited by financial elder abuse, they should ask for help from U.S. Administration on Aging, either on line or calling 1-800-677-1116.
- Find an adult protective services agency
Besides the help offered by U.S. Administration on Aging, the seniors should go to adult protective services agency where will provide useful resources against financial elder abuse.
- Find an ombudsman
In the United States, every state has long-term care ombudsmen who will give advice to the seniors about nursing homes and assisted-living facilities and will help them with financial elder abuse. To find an ombudsman, the seniors can go to the National Voice for Quality Long-Term Care.
- Go to police station
If none of the measure above works, the seniors can always go to the police station to ask for protection of their financial right.
In addition, the seniors can choose to change their situation actively in order to avoid financial elder abuse.
- Remain socially active
If the seniors are isolated from the outside world, they would feel unsafe, which will add their financial vulnerability and makes it more difficult for people to find the warning signs.
- Avoid joint bank accounts
Some senior people will open a joint bank account so that their family members can save and withdraw money easily and help them manage their finance. However, a joint bank accouns will leave a loophole for financial elder abuse.
- Don’t give up your home
When the seniors move into a retirement community, they may choose to sell their house and sign it over to someone they trust and let them handle the selling. However, a house worth so much and the seniors should never sign it over easily.
- Invoke the power of attorney
Although the seniors are sometimes unable to make reasonable and independent financial decision, an attorney is here to provide legal advice and help the seniors protect their wealth and assets.