Elder Financial Abuse

I tell my two children to always cherish the relationship they have with each other because in the natural order of things, your sibling should be the person with whom you have the longest relationship in your life. Unfortunately, harmony among siblings often ends when mom and dad’s money becomes an issue. As parents age, many times persons you should be able to trust, siblings, get greedy and begin to take advantage of their parents. There are many forms in which this greed can occur. Sometimes, they are the primary caregiver for a parent and begin to feel entitled to more of the parent’s assets. They then work to exclude the other children from access to the parent and pressure the parent to change their will. Other times, they use a power of attorney to deplete bank accounts or sign over assets to themselves. Some even use the income of the parent to pay for their own needs.