$2.9 billion vaporized by elder financial abuse in 2009

What is the Elder Justice Act? “The act authorizes federal funding for adult protective services in each state, demonstration projects, forensic centers and training for long-term care providers,” according to the ABA. Unlike Child Protective Services, Adult Protect Services is not federally mandated.

The Elder Abuse Act (EAA) was introduced this year by the Senate Special Committee on Aging, and would support the formation of specially selected elder justice positions in local jurisdictions. The EAA calls for the creation of an office of Elder Justice within the Justice Department itself.

The EJA mandates direct reporting to law enforcement for crimes occurring in long-term care facilities, and would impose civil penalties for failure to report.

MetLife Study: “Crimes of Occasion, Desperation, and Predation Against America’s Elders,” a follow-up to a study in 2009 named “Broken Trust: Elders, Family, and Finances.” This new study broadens the scope of the preceding study to match the growing problem of fiscal abuse against the elderly.

The annual financial loss by victims of elder financial abuse is estimated to be at least $2.9 billion dollars, a 12% increase from 2008.

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About Evan H Farr, CELA, CAP

Evan H. Farr is a 4-time Best-Selling author in the field of Elder Law and Estate Planning. In addition to being one of approximately 500 Certified Elder Law Attorneys in the Country, Evan is one of approximately 100 members of the Council of Advanced Practitioners of the National Academy of Elder Law Attorneys and is a Charter Member of the Academy of Special Needs Planners.

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