For some elderly people, the prospect of spending the remaining years alone often leaves them very vulnerable to those who would take advantage of their position. In some situations, an elderly parent can end up giving away or losing much of his or her life savings to someone who is only interested in the financial side of entering into a relationship. If you’re a child with an elderly parent or an elderly person who is worried about being taken advantage of, there are several issues you’ll need to think about.
Caregivers. One of the most common situations in which an elderly person develops a relationship with a much younger person comes as a result of the caregiver-patient relationship. This can happen in nursing home or extended care facilities, as well as when a private nurse or private caregiver is employed to look after the elderly person. If the elderly parent begins relating stories about the caregiver’s family difficulties, ill relatives, or other stories that imply financial need, this is a classic warning sign that the caregiver is attempting to take financial advantage of the elderly parent.
Children. On the opposite side of the equation, adult children and grandchildren can often be the gold diggers when they know they stand to inherit a substantial amount. If an elderly parent is entering into a romantic relationship with someone else, there may actually be genuine feelings there. The relationship may also be one that is satisfying and beneficial to the older person. In this situation, an elderly person may wish to use a professional to manage his or her finances. The professional will be able to objectively evaluate the elderly person’s needs and protect his or her interest from any gold diggers, be they family members or other people.