Final answer:
Financial abuse is the illegal use of a person's finances or valuables, while material abuse pertains to tangible assets like property. These abuses are prevalent among the elderly, with 5.2% reporting financial abuse in Acierno's study.
Step-by-step explanation:
Definition of Financial and Material Abuse
Financial abuse involves the illegal or unauthorized use of someone's property, money, pension book, or other valuables (including changing the person's will to name the abuser as heir). Meanwhile, material abuse is the same type of exploitation but includes tangible assets such as real estate and possessions. These types of abuses can be particularly damaging to older adults, potentially stripping them of their financial security and the means to obtain services and care. The statistics from Acierno's study indicate a troubling prevalence of financial abuse among the elderly, with 5.2 percent of respondents aged sixty and older reporting such exploitation. It is a testament to the importance of safeguards for seniors to protect their assets and well-being.