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Chicago nursing home abuse attorneysAccording to the National Center on Elder Abuse, financial abuse is the most pervasive type of elder abuse. Older individuals or those with mental or physical disabilities are often easily taken advantage of when it comes to finances. Unscrupulous caretakers, nursing home staff, or family members may steal or misuse an elder’s funds because they know the elderly person will not be able to report the abuse. Elder financial abuse should be a serious concern for those with loved ones in a nursing home.

Cognitive Impairment Due to Dementia or Alzheimer’s Puts Residents at Higher Risk of Being Exploited

Nursing home residents suffering from cognitive impairment are especially vulnerable to elder financial abuse. The abuser is usually someone the elderly or disabled person trusts such as a spouse, child, grandchild, or caretaker. Even professionals like financial planners, fiduciaries, and nursing home staff member have been caught defrauding or stealing from vulnerable residents in the past. In the majority of these types of cases, the victim of financial abuse does not even know he or she is being exploited.

Examples of Financial Abuse That Can Occur in Nursing Homes and Assisted Living Facilities

Institutional financial abuse occurs when an institution such as a nursing home, assisted living facility, rehabilitation facility, or other healthcare organization purposely steals funds from a resident. Some nursing homes have been found guilty of overcharging residents for services in order to bring in more profit. Other examples of nursing home financial abuse include:

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