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Tips to keep the elderly safe from financial scams and abuse

Unfortunately, many elderly people experience violent situations, whether by their families, other people or even institutions. Violent acts are not just physical.

There are several types of aggression, being financial abuse one of them.

Financial Violence against the elderly is any practice that aims at the illicit appropriation of an elderly person's assets and can be carried out by family members, professionals and institutions. It is increasingly common for elderly people, especially those in a situation of dependence, to be victims of financial violence. All older people, whatever their financial and health status, can be victims of financial violence. Only information and prevention can protect us!

Regarding the causes of Financial Violence, we can find the devaluation and lack of respect for the elderly; ignorance of the law and the rights of older citizens; the mistaken belief that the property of the elderly automatically belongs to their family members; the incorrect idea that family members and institutions have the legitimacy to decide on behalf of the elderly; the absence of a legal representative, whenever an adult is unable to manage his person and his assets; and the lack of knowledge that the descendants have a maintenance obligation.

Patrimonial or financial violence is represented by practices of appropriation of a person's assets. With the elderly, it usually happens with interference in the way each one manages their own money. We know that some senior people need help to carry out some financial activities. However, you need to be careful and protect yourself from malicious actions.

Keep reading to learn 4 tips to protect yourself from property violence against the elderly and avoid the impacts of these attitudes on your daily life!

First of all, you should know how to identify violence. Just the fact of identifying what is or is not a violent practice already makes you much more protected against dangers related to your heritage. As we said, at times it is normal to need help. For example, asking someone to take you to the bank or even giving someone money to pay some bills, getting help when planning financially, etc.

But, how to perceive attempts at patrimonial violence — and differentiate them from positive help? Some examples of financial abuse are:

- Being forced to sign documents without understanding what they mean;
- Receive pressure to modify the will;
- Being involved in loans or financing for other people;
- Having someone else make decisions about your wealth without consulting you.

The second tip is to learn to keep control of your income. As age advances, it is natural for family members to worry about the elderly person's conditions to organize their own finances. After all, there may be episodes of forgetfulness and confusion related to important information.

However, this does not mean that a person should lose control of her income — especially when she still has the mental capacity to manage her resources. Therefore, it is important that the elderly remains active in managing money.

Try to stay informed about issues that affect your finances. And do not authorize another person or institution to directly receive your retirement, pension and other sources of income.

The third tip is to look for trusted people to help you. If you need support to earn your income and handle your wealth, make sure you have trusted people around. Unfortunately, some acquaintances or family members can execute property violence.

An important tip is to seek legal support for more important aspects. Thus, you have secure information and can decide with more autonomy. And, even if you trust those who accompany you, be sure to update yourself on matters that concern you.
Last but not least, deepen your financial education.

A person who has no knowledge about what he experiences will normally be more exposed to problems and risks, right? In this sense, getting financial education allows you to feel more secure. It is especially relevant against the violence that can be practiced by banks and financial institutions.

For example, pressure to borrow under abusive contractual conditions. Don't forget to evaluate all the details before closing a contract.

Property violence is a difficult reality experienced by many elderly people. But with these 4 tips you can stay alert and surround yourself with reliable people so you don't face dangers in relation to this aggression.

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