Watching your mom or dad get older is hard. You love them. You want them to be safe and happy. When we are little, our parents protect us. When they get older, it is our turn to protect them. But sometimes, the danger is hard to see. It does not look like a monster hiding in the dark. Sometimes, the danger looks like a friendly neighbor, a new caregiver, or even a close family member.
At the Knochel Law Office, we have been practicing law since 1982. My name is Keith Knochel, and I am the owner of Knochel Law Firm. Over the years, OUR lawyers have sat with many heartbroken families. We have seen adult children cry because someone stole their parent’s life savings. It is a terrible feeling. We want to help you stop it before it happens, or catch it early if it has already started.
Our corporate offices are in Bullhead City, Arizona. We also have satellite offices in Kingman, Arizona, and Lake Havasu, Arizona. We practice Divorce and Family Law, Personal Injury Law, Criminal Law, Business and Commercial Law, Elder Law, Real Estate Law, and Wills, Estates, and Probate. Because we handle so many different areas of law, we know how to protect your family from all sides.
If you want to find out more about how we can help, you can visit us at our website.
In this blog post, we are going to talk about a very serious topic. We are going to cover the signs of financial abuse. We will talk about things to look for when you visit your parents. We will share facts that will shock you. Most importantly, we will tell you how to keep your family safe.
Key Takeaways
Before we dive deep, here are the main things you need to remember from this article:
- Financial abuse is common. Bad people steal billions of dollars from older adults every single year.
- The abuser is usually someone they know. Almost 60% of the time, the person stealing the money is a family member or a close friend.
- Look for sudden changes. If your parent suddenly has no money to pay bills, or if they change their will out of nowhere, you need to ask questions.
- Watch out for new “best friends.” Scammers often pretend to be a lonely senior’s new best friend to get access to their bank accounts.
- Do not wait to get help. If you see signs of abuse, you must act fast to protect your parent’s money and their safety.
The Hidden Truth: Stats Few People Are Talking About
When people talk about crime, they often think about robberies or car thefts. But one of the biggest crimes happening right now is happening in quiet living rooms across Arizona.
Let’s look at some facts. These numbers are scary, but you need to know them.
According to the National Council on Aging (NCOA), financial abuse costs older Americans a shocking $36.5 billion every single year. Yes, billion with a “B.” This is money that parents saved for their retirement, for their care, and for their children.
But it gets worse. A report from the Financial Crimes Enforcement Network (FinCEN) found over $27 billion in suspicious bank actions involving older adults in just one year. That means the real amount of stolen money might be much higher than we even know.
Here is a fact that very few people talk about: Almost 60% of people who steal from seniors are family members. We do not like to think about a son, daughter, or grandchild stealing from their own family. But it happens all the time. Sometimes it starts small. Someone might take twenty dollars from a purse. Then they use the parent’s credit card to buy groceries. Soon, they are transferring thousands of dollars out of a bank account.
Another hidden fact is how much money an older adult loses on average. When fraudsters target an older person, the average loss is $35,101. For many seniors, losing thirty-five thousand dollars means they can no longer pay for their medicine or their home.
The saddest part? Most of these crimes are kept a secret. Studies show that only 1 in 24 cases of elder financial abuse ever gets reported to the police. Why? Because the older person is embarrassed. They feel ashamed that they were tricked. Or, they are too scared to report their own child or caregiver.
If you want to protect your parents, you have to keep your eyes wide open. You need to know what to look for.
You can read more about how we help protect families at Knochel Law Firm.
How Can I Spot the 5 Signs Your Aging Parent May Be a Victim of Elder Financial Abuse in Arizona?
If you are worried about your mom or dad, you need to watch their habits. You need to look for changes in how they act and how they spend their money. Here are the five biggest red flags to watch out for.
1. Sudden Changes in Bank Accounts and Spending
This is often the very first sign. Older adults usually have habits. They buy the same things. They go to the same stores. They pay their bills on time. If those habits suddenly change, you need to ask why.
Look at their bank statements. Do you see large amounts of money being pulled out from the ATM? Most seniors do not need hundreds of dollars in cash every week. Do you see checks written to people you do not know? Do you see charges on their credit card for things they would never buy, like video games, expensive clothes, or plane tickets?
Sometimes, an older adult will suddenly add a new name to their bank account. If your dad says, “I added the nice lady who cleans my house to my bank account so she can buy my groceries,” that is a huge warning sign.
If you are helping your parent manage their money, it might be smart to search online for the “best banks near me” that offer fraud alerts for seniors. Many banks now have special alerts that text the adult child if a large amount of money is moved.
If you notice weird bank charges, do not ignore them. Ask your parent about them gently. See if their answer makes sense. If you need help looking into these legal matters, please reach out to us at Knochel Law Office.
2. A Brand New “Best Friend” or Caregiver Who Takes Control
Loneliness is very hard for older adults. If they live alone, they might feel sad. Scammers know this. They look for lonely older people. Then, they pretend to be their new friend.
Sometimes, this person is a neighbor. Sometimes, it is a hired caregiver. Sometimes, it is someone they met online. Suddenly, your parent is talking about this new person all the time. They might say, “John is the best person ever. He comes over every day to help me.”
Having a friend is good. But it becomes dangerous when this new friend starts taking control.
Does this new person answer your parent’s phone? Do they talk for your parent? Do they try to stop you from visiting? An abuser will often try to push the family away. They might tell your parent, “Your kids don’t really love you. I am the only one who cares about you.” They do this so they can steal the money without anyone watching.
If you are searching for the “best in-home care near me” for your parent, always use a trusted, licensed company. Do a background check. Never let a stranger move into your parent’s house without checking who they are.
3. Missing Property or Sudden Changes to Legal Papers
When we visit our parents, we know what their house looks like. We know where mom keeps her good jewelry. We know dad’s favorite watch. If you start noticing that nice things are missing from the house, you should be worried.
If you ask your mom where her gold necklace is, and she looks confused or makes up a strange story, someone might have stolen it and sold it.
But it is not just physical things that go missing. You need to watch out for changes to legal papers. Has your parent suddenly changed their Will? Have they given someone else Power of Attorney? Have they signed the deed of their house over to a new friend or a different family member?
Making changes to a Will or a house deed is a big deal. Older adults should not make these changes without talking to a trusted lawyer first. If someone forces an older person to sign a paper they do not understand, that is abuse.
If you need help making sure your parent’s legal papers are safe and correct, OUR lawyers can help. You can learn about our Wills, Estates, and Probate services at our law firm website.
4. Unpaid Bills When They Have Enough Money
Imagine this: Your dad worked hard his whole life. He has a good pension. He gets Social Security. He has plenty of money in the bank. He has always paid his bills early.
Then, one day, you visit his house and find a pile of mail. You open the mail and see notices that his electricity is going to be turned off. You see letters saying his house taxes are late.
Why is he not paying his bills?
Sometimes, an older person simply forgets because their memory is getting bad. But many times, it is because someone else has taken their money. If a caregiver or family member is stealing the money, there is nothing left to pay the electric bill.
This is a terrible situation. If they run out of money, they might not be able to afford the “best medical care near me” when they get sick. They might lose their home. If you see unpaid bills, you need to sit down with your parent and look at their bank accounts together. Do not wait until the power gets shut off to ask questions.
You can find good resources on how to talk to your parents about money from the Consumer Financial Protection Bureau (CFPB).
5. Your Parent Seems Scared, Confused, or Secretive
Money is a private thing. But if your parent suddenly acts scared when you talk about money, that is a red flag.
If you ask them, “Mom, how are you doing with your bills?” and she starts crying or gets very angry, something might be wrong. If she hides her bank statements from you, she might be trying to cover something up.
Abusers are very good at making older people feel scared. The abuser might say, “If you tell your kids I took the money, I will put you in a bad nursing home.” The older person believes them. So, they keep the secret. They live in fear every single day.
Look at your parent’s body language. Do they look down when they talk about their caregiver? Do they seem nervous when a certain family member is in the room? Trust your gut. If you feel like your parent is scared, they probably are.
Nobody should be afraid in their own home. If you think someone is hurting or threatening your parent, you need to act. You can report elder abuse to the Department of Justice’s Elder Justice Initiative.
How Do People Hide Financial Abuse From Family?
You might wonder, “How could someone steal from my mom without me knowing?” It happens all the time. Abusers are sneaky.
First, they gain the older person’s trust. They act very sweet. They help with chores. They listen to the older person’s stories.
Second, they isolate the older person. Isolation means keeping them away from everyone else. The abuser might tell your dad, “Don’t answer the phone when your son calls. He just wants your money.” The abuser tries to make the older person believe that the abuser is their only true friend.
Third, they use fear. Like we talked about before, they threaten the older person.
Finally, they start small. They do not steal ten thousand dollars on the first day. They start by asking for twenty dollars for gas. Then they ask to borrow a hundred dollars. Then they take the credit card to buy groceries and buy a gift card for themselves at the same time. Before the older person knows it, their life savings is gone.
Why Is Financial Abuse So Hard to Catch in Arizona?
Arizona is a beautiful place to live. Many older adults move here to retire. The sun is warm, and it is a peaceful place. That is why we have so many seniors living in Bullhead City, Kingman, and Lake Havasu.
But because we have so many seniors, we also have many scammers who move here just to target them.
Sometimes, adult children live in a different state. If you live in cold New York and your mom lives in warm Arizona, you cannot check on her every day. You only talk on the phone. It is very easy for a scammer to steal from your mom when you are a thousand miles away.
That is why it is so important to have local help. If you are far away, you might want to search for the “best elder care lawyers near me” in your mom’s town. Having a local lawyer look over her estate plans and legal papers can keep her safe. If you need a trusted team in the Bullhead City area, you can contact us at lawyersinarizona.com. We are here to keep a watchful eye out for your family.
What Should You Do If You See These Signs?
If you read those five signs and thought, “Oh no, this is happening to my dad,” you need to act right now. Do not wait until tomorrow.
- Talk to your parent gently. Do not yell. Do not get angry at them. Tell them you love them. Tell them you want to help. Ask them open questions like, “Can we look at your mail together?”
- Call the bank. If you are on their account, call the bank and stop any large money transfers. You can ask the bank to freeze the account if you think a thief has the debit card.
- Change passwords. If your parent uses the internet, change their bank passwords. Scammers often steal passwords to move money online.
- Report the abuse. You can call Adult Protective Services in Arizona. They are trained to help older adults who are being hurt or stolen from.
- Call a lawyer. You need someone who knows the law. You need someone who can help you get the money back or stop the abuser from taking more. OUR lawyers at Knochel Law Firm know how to handle these tough cases. We will stand up for your parent.
Protecting your aging parent is one of the most important things you will ever do. They cared for you when you were small. Now, it is your turn to care for them.
8 Most Common Questions About Elder Financial Abuse in the Bullhead City Area and Arizona
When families come to our office, they are usually very worried. They have a lot of questions. Here are the 8 questions we hear the most, and our answers to them.
1. Is elder financial abuse a crime in Arizona?
Yes, absolutely. In Arizona, taking money, property, or assets from a vulnerable adult without their permission is a serious crime. It is called financial exploitation. Depending on how much money was stolen, the abuser could face serious jail time and be forced to pay the money back. If you suspect this crime, it should be reported to the police.
2. Can I get my parent’s money back if it was stolen?
It is possible, but it depends on the situation. If the money was sent to an unknown scammer overseas, it is very hard to get back. However, if a local caregiver, friend, or family member stole the money or tricked your parent into signing over a house, we can often take them to civil court. We can sue them to return the stolen property or money. You must act quickly before the abuser spends everything.
3. My brother is stealing from our mom, but she refuses to press charges. What can I do?
This is a very common and heartbreaking situation. Parents often want to protect their children, even if the child is stealing from them. If your mom refuses to act, you might need to step in. You can report the abuse to Arizona Adult Protective Services. You may also need to talk to a lawyer about seeking a guardianship or conservatorship over your mom so you can take control of her money and stop your brother from taking more.
4. How do I get Power of Attorney to protect my dad’s money?
A Power of Attorney is a legal paper where your dad gives you the right to handle his money and pay his bills. Your dad must be of sound mind to sign this paper. This means he must understand what he is signing. If he has severe dementia, it is too late for a Power of Attorney. If he is still clear-minded, he can sit down with a lawyer to create this document. This helps you monitor his bank accounts to keep scammers away.
5. What is the difference between a Guardianship and a Conservatorship in Arizona?
These terms confuse a lot of people. In Arizona, a Guardianship is when the court gives you the power to make medical and living choices for an adult who cannot care for themselves. A Conservatorship is when the court gives you the power to handle their money and property. Sometimes, if a parent is a victim of financial abuse because their mind is failing, you will need to ask the court for a Conservatorship to lock down their money and protect it.
6. Can a nursing home or care facility steal from my parent?
Yes. Sadly, financial abuse can happen inside a care facility. A bad worker might steal cash from a wallet, steal checks, or trick a patient into giving them gifts. This is why you must always review your parent’s bank statements, even if you think they are safe in a facility. If you are looking for a place for mom or dad, always search for the “best assisted living near me” and read their reviews and state inspection reports.
7. Does Knochel Law Firm handle elder abuse cases in Lake Havasu and Kingman too?
Yes, we do. Our corporate office is in Bullhead City, Arizona, but we have satellite offices in Kingman, Arizona, and Lake Havasu, Arizona. OUR lawyers live and work in these communities. We handle cases all over Mohave County. We practice Elder Law, Personal Injury, and Criminal Law, which means we have the tools to fight financial abuse from multiple legal angles.
8. How much does it cost to talk to a lawyer if I think my parent is being abused?
If you are worried that your aging parent is a victim of financial abuse, the first step is just talking to us. At Knochel Law Firm, we want to hear your story. You can call our office to set up a meeting. Do not let the fear of lawyer fees stop you from protecting your mom or dad. Time is the most important thing. The faster you act, the more money we can save.
Taking care of an aging parent is a big job. You do not have to do it completely by yourself. If you see the signs of elder financial abuse, be brave. Step forward and protect them. At the Knochel Law Office, we have been standing up for families in Arizona since 1982. We are ready to stand up for yours. Do not wait until everything is gone. If you need help, please visit us at Knochel Law Firm today.
