[Author’s Name]
[Institution’s Name]
Essay on Financial Exploitation of the Elderly
Exploitation of elderly persons can be referred to as financial abuse, material abuse, fiduciary abuse, financial exploitation, financial mistreatment or maltreatment, and economic victimization. (Wilber, 61–80) While the definition of financial exploitation varies among the states, the one most commonly cited is illegal or improper use of an elder's or incapacitated adult's resources for profit or gain. (This definition comes from A Comprehensive Analysis State Policy Related to Elder Abuse, published by the American Public Welfare Association/National Association of State Units on Aging in July 1986.) Service professionals should check their local laws to determine the precise definition used in their county or state.
Although each case presents its own particular facts, exploitation tends to fall into predictable patterns. The common denominator is the existence of a relative, friend, or caregiver in which the elder has placed confidence or trust. The delegation of financial authority to the exploiter may be done openly or come about more subtly. Below are three categories of elders who are especially vulnerable to financial abuse and the most typical exploitation scenarios: An elder who is physically dependent on a caregiver who isolates him or her from social and family contacts. Because of the isolation and physical dependence on the caregiver, the elder loses his or her free will and becomes powerless to say no. As long as this relationship continues in isolation, the victim (who otherwise may appear rational and lucid) may even ratify the exploitative transaction after it has occurred.
An elder who is "slipping." These cases involve elders who once may have been perfectly capable of handling their own financial affairs, but dementia or other ailments cause them to lose interest and ability in such matters. These elderly people typically turn to the exploiter, who again is someone they trust, to handle their financial affairs......
