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September 12, 2025
As parents age, adult children are increasingly involved in helping manage financial decisions, especially when health issues or cognitive decline affect their ability to do so independently. Unfortunately, this added responsibility sometimes opens the door to elder financial abuse, where a caregiver or relative misuses or controls an elderly person’s finances without consent.
Common Red Flags of Elder Financial Abuse
Financial abuse of seniors often goes unnoticed until significant harm has already occurred. If concerned about a parent’s safety, pay close attention to these warning signs:
- Sudden or unexplained changes to bank accounts or beneficiary designations
- New names added to financial accounts
- Unusual debit card activity despite a parent being homebound
- Frequent ATM withdrawals or large cash transfers
- Missing personal property, jewelry, or valuable
- Unmet basic needs despite sufficient funds
- Checks signed when a parent is not mentally or physically able
- Large gifts or payments made to a caregiver
- Changes to estate planning documents without clear reasoning
- Caregivers who restrict access to a parent or discourage visits
If a sibling or another family member is controlling access or finances, it may be time to ask direct questions. Acting early can help prevent further damage.
Steps to Take When You Suspect Financial Exploitation
Avoiding conflict may seem easier in the short term, but ignoring elder financial abuse can lead to devastating long-term consequences. Here’s what to do:
1. Speak With an Attorney
Consult a probate or guardianship attorney who understands elder law. They can assess the situation, explain options, and help determine whether legal intervention is necessary.
2. Gather Documentation
Collect copies of bank statements, financial transactions, estate planning documents, and communication records. Evidence is key if legal steps become necessary.
3. Hold a Family Meeting
Address the financial concerns in a calm, respectful setting. Be transparent about the intent to protect a parent and work toward a solution, if possible, as a family.
4. Explore Power of Attorney Options
A durable financial power of attorney allows a trusted person to manage the financial affairs of someone no longer able to do so. A medical power of attorney gives someone authority to make health care decisions if the person becomes incapacitated. Both can be powerful tools for preventing abuse, when used responsibly.
5. Consider Guardianship
If no alternatives are sufficient and a parent is unable to manage their own affairs, you can file for guardianship. This legal process appoints a responsible adult to manage care and finances. Guardianship should be considered only after exploring less restrictive alternatives, as it involves the loss of certain legal rights for the parent.
How to Report Elder Financial Abuse in Texas
If you suspect elder financial abuse and cannot resolve it, report it.
In Texas, Adult Protective Services (APS) investigates suspected abuse, neglect, or exploitation of adults age 65+ or with disabilities.
Make a confidential report to:
- Texas Abuse Hotline: 1-800-252-5400
- Online: TxAbuseHotline.org
If there is an immediate risk of harm, contact the local police department.
Is It Abuse If a Caregiver Takes Money from a Parent?
Even if a caregiver or family member is devoting significant time to helping a parent, taking money without consent is still abuse. The law is clear: using someone else’s money for personal benefit without permission is a crime, even within families.
Financial elder abuse may take many forms, including:
- Unauthorized withdrawals from bank accounts
- Taking cash or valuables from the home
- Signing up for credit or services using the parent’s information
- Changing legal documents without understanding or consent
- Coercing an elderly person into signing a power of attorney
- Forging signatures
These actions are serious and can cause long-term financial harm.
Talk to a Houston Attorney Who Handles Elder Financial Abuse Cases
If concerned that someone is taking advantage of an aging parent, don’t wait. The BoyarMiller team of probate attorneys in the Houston area is experienced in elder financial abuse cases. We can help determine the best way to protect a loved one while navigating complex legal and family dynamics.