What is a potential sign of elder abuse related to new financial activities?

Becoming close to someone who has access to an elder's financial accounts can be a significant indicator of potential elder abuse. This scenario often raises red flags, particularly if this newfound closeness coincides with changes in financial behavior, such as unusual withdrawals or transfers of funds. When an individual suddenly forms a close relationship with an elder, especially if they assert influence over the elder's financial decisions or gain access to their accounts, it can suggest coercive or manipulative behavior.

In the context of elder abuse, this association may lead to financial exploitation, where the elder may be pressured into making decisions that are not in their best interest, often benefiting the person who has become close to them. Monitoring such relationships is critical, as it helps protect vulnerable individuals from potential financial harm.

The other options, while they may indicate changes in financial behavior, do not specifically point to potential exploitation or abusive situations in the same way. For example, opening new savings accounts or starting educational savings plans could be normal financial activities. Lowering contributions to retirement accounts can simply reflect a change in financial priorities or circumstances. However, the dynamic of forming a close relationship with someone who gains access to one's financial resources often indicates a more concerning and potentially abusive situation.