Recently in Financial Elder Abuse Category

June 19, 2009

Elderly Victim Abused Financially By Family On Long Island

Unfortunately, elder abuse is often perpetrated by those individuals closest to the victim. As Saul Friedman of Newsday recounts in his June 18, 2009 article, an elderly woman on Long Island attempted to protect her assets from Medicaid by providing her daughter with a life estate to her home (the right to live in the house during the mother's lifetime). However, her son-in-law used this life estate to banish the woman to the basement. Without a familiarity of her own rights, the woman did not seek assistance of an attorney and lived out the rest of her life as a prisoner in her own home.

The article also cites a joint study conducted by Virginia Polytechnical Institute and Adult Protective Services. The results of the study indicate that the recession has increased the vulnerability of older people, many of whom fail to report the abuse. Family members and caregivers are the perpetrators of the abuse in 55 percent of the instances. The typical victim, the report said, "is between 70 and 89, white, female, frail and cognitively impaired. She is trusting of others and may be lonely or isolated."

Website Resources:

The elderly: financially exploited by families, Newsday, Saul Friedman, June 18, 2009.

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June 23, 2008

Sobering Facts Regarding The Elderly And Elder Abuse

Dr. Eva Mor has authored a book entitled "Making the Golden Years". Dr. Mor's research has revealed many disturbing truths the elderly population will encounter, from insufficient incomes to elder abuse. According to her book, the U.S. Dept. of the Aging has estimated that by 2019 the number of Americans over 85 will increase to 4.2 million, an increase of 44 percent from today. The median income for men is $21,102 and $12,080 for women over 85 years old.

The average annual cost of a stay in a nursing home in the United Sates is approximately $70,000. Medicare covers 100 percent of costs for only 20 days and partial cost for 80 days. After the 100 days, Medicaid will take over if the individual is eligible. Assisted living facilities are not covered by Medicare and can range from $40,000 to $100,000 a year.

Even more sobering (and disturbing), the elderly are often the target of devious telemarketers (approximately half of the $40,000,000 stolen in telemarketing scams has been attributed to elderly victims). The NY Times reported that a list severely impaired elderly individuals was sold to telemarketers. The book also indicates that 500,000 cases of elder abuse were reported in 2006. It is also likely that at least that many go unreported. Dr. Mor's book offers practical tips to avoid these pitfalls.

Website Resources:

Making the Golden Years, Health News Digest, Eva Mor, June 21, 2009.

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