{"id":355737,"date":"2016-04-04T11:01:54","date_gmt":"2016-04-04T16:01:54","guid":{"rendered":"https:\/\/ability-fl-prod.internetbrands.com\/ability-law\/elder\/elder-abuse\/elder-financial-abuse-and-exploitation.html"},"modified":"2026-07-27T11:39:00","modified_gmt":"2026-07-27T16:39:00","slug":"elder-financial-abuse-and-exploitation","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/elder\/elder-abuse\/elder-financial-abuse-and-exploitation.html","title":{"rendered":"Elder Financial Abuse and Exploitation"},"content":{"rendered":"\n
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Older Adult Financial Abuse and Exploitation<\/h1>\n\n
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\n By FindLaw Staff<\/a> | Legally reviewed by Laura Temme, Esq.<\/a>\n | Last updated\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n\n\n

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Key Takeaways<\/h2>\n

Older adult financial abuse is one of the most common\u2014and costly\u2014forms of elder mistreatment. It often involves scams, misuse of legal authority, or exploitation by someone in a position of trust, and the warning signs can be subtle.<\/p>\n\n <\/div>\n <\/div>\n<\/div>\n\n\n

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The National Council on Aging (NCOA) estimates that such <\/span>abuse costs older adults around $2.6 billion to $36.5 billion annually<\/a>. This problem is expected to increase in the coming years as the older population grows.<\/span><\/p>\n<\/div>\n<\/div>\n

By 2030, people 65 years of age and older<\/a>\u00a0will constitute\u00a021% of the total U.S. population<\/a>. Senior citizens aged 85 and older rank as one of the fastest-growing populations in the country,\u00a0growing from 4 million in 2000 to 21 million by 2050<\/a>.<\/p>\n

Understanding the basics of elder financial abuse can help you act quickly to protect a loved one\u2019s assets and prevent further harm. Keep reading to learn more about financial abuse and exploitation involving older adults and relevant legal protections.\u00a0<\/p>\n

If you suspect an older loved one is being exploited financially, legal help is available. An attorney in your area<\/a> can assess whether the situation violates the laws and guide you through the next steps. An attorney will work to protect your loved one\u2019s assets and pursue accountability under available legal protections.<\/p>\n

What Is Older Adult Financial Abuse?<\/h2>\n

The\u00a0federal Elder Justice Act<\/a>, enacted in 2010, defines the financial exploitation of elderly people as:<\/p>\n

“The fraudulent or otherwise illegal, unauthorized, or improper act… that uses the resources of an elder for monetary or personal benefit, profit, or gain, or that results in depriving an elder the rightful access to, or use of, benefits, resources, belongings, or assets.”<\/p>\n

Older dependent adults are particularly vulnerable to financial exploitation and appropriation due to:<\/p>\n