A recent New York Times article spotlights a renewed approach and increased legislative response to financial elder abuse. Featured in the article are personal accounts of real people whose family members and close friends have been affected by elder financial abuse.
Investment fraud and financial abuse directed towards seniors and the elderly has been a rising concern. We recently featured an issue focusing on the problem of increased elder financial abuse. Most elder abuse is perpetrated against those between the ages of 80-90, suffering from degenerative diseases such as Alzheimer’s.
Now, the issue is getting legislative attention. According to the Times article, 33 states have considered the issue of specific laws directed at financial abuse against the elderly. Other states are revisiting their existing laws.