Fighting back: CPAs on the lookout for Elder Abuse.

• Author: Hill, Vanessa J.
• Position: ELDER CARE

In 2000, more than 10 percent of the population in California was over the age of 65. And that percentage is expected to grow significantly during the coming decades as Baby Boomers enter their golden years.

As many seniors choose to remain independent, living in the homes they've been in for years, they represent a vulnerable segment of society, especially if physical or cognitive disabilities develop with age.

State laws designed to protect seniors from elder abuse have been in place for years, though many incidences of abuse--whether physical, psychological or financial--go unreported. To protect the best interest of their aging clients, CPAs should know the warning signs of financial elder abuse, as well as how to report suspected abuse.

DISABILITIES AND VULNERABILITY

While many seniors enjoy a high quality of life due to good health and financial security, at some point, frailty may set in and seniors could begin to need various forms of assistance.

According to the U.S. Census Bureau, 42 percent of the population over age 65 reports having some sort of disability or long-lasting condition. For those in the oldest age category--over age 85--the disability rate increases to 72 percent. Seniors also are likely to experience difficulty leaving their home to go to the store or to the doctor alone.

The probability of developing dementia, or progressive brain dysfunction, increases with age. Even mild dementia can pose a particularly dangerous situation for the elderly, as a family member or caregiver may seek to exert undue influence to change a will, extract money or other assets.

Seniors living independently may be reluctant to seek help from relatives or friends, fearing that asking for assistance might be construed as an indicator that they are no longer able to care for themselves. In some cases, the seniors may have no relatives or friends to turn to, or their relatives may live far away. These seniors are thus particularly vulnerable to financial abuse, especially from strangers.

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Losing a spouse or other caregiver also significantly increases the vulnerability to abuse. Estranged relatives may show up looking to exploit the senior's financial assets. Strangers may try to take advantage of lonely seniors through telemarketing scams. If the senior remarries, a new spouse may take control of assets and use coercion to change the senior's will.

Many seniors have accumulated savings to provide for their retirement...