The elderly can be vulnerable, and especially susceptible to financial abuse. At The Estate Lawyers, APC, our knowledgeable and skilled elder financial abuse attorneys understand the deep concern you may have for the financial well-being of an elderly loved one. As one of California’s leading conservatorship law firms, we have offices in Irvine and San Diego. Our elder law attorneys fight to protect seniors from the devastating effects of financial elder abuse.
Understanding Financial Elder Abuse
Elder financial abuse involves the unauthorized or unethical handling of an older adult’s money, belongings or financial resources. This misconduct may take the form of fraud, theft, undue influence or negligent management.
Those responsible are often individuals in positions of trust, such as relatives, caregivers, acquaintances or professionals. They may take advantage of the elder’s diminished capacity, emotional dependence or legal permissions to carry out the abuse.
Financial elder abuse is not always overt. It often involves subtle manipulation, coercion or deception. While California law provides strong protections, abusers frequently exploit loopholes or personal relationships to gain asset control. Tactics include include:
- Gaining power of attorney under false pretenses
- Pressuring elders to revise estate plans or beneficiary designations
- Withholding financial information or access to accounts
- Misusing joint accounts or credit cards
- Creating dependency through isolation or emotional manipulation
Unfortunately, many elders do not realize they are being exploited until significant economic harm has occurred. Financial elder abuse can escalate quickly, leaving vulnerable victims without recourse or resources.
Recognizing The Signs Of Financial Abuse
The financial abuse of seniors is rarely obvious. However, there are red flags that can indicate financial manipulation and abuse are occurring. These include:
- When a senior lives alone and is usually isolated from family starts talking about their new friend, and they are relying on this new friend for financial advice, this can be a warning sign of financial manipulation.
- When another relative takes over a senior’s finances but also starts displaying signs of a more lavish lifestyle, this can be a sign of financial abuse or misappropriation of money. For example, the relative might suddenly quit their job or unexpectedly buy a new sports car.
- When a senior’s conservator (or trustee) avoids answering your questions, is evasive or fails to provide required documentation, this can be an indication of financial abuse.
When you reach out to us because of suspected financial abuse of one or more family members, our elder abuse attorneys will get to work immediately. We will discuss the situation with you in detail and advise you of your rights. Next, we will thoroughly investigate and identify any breaches of fiduciary duties and take responsible parties to court if necessary.
Protecting The Elderly From Financial Abuse In California
The state of California recognizes the vulnerability of older adults and has enacted specific legislation to safeguard their well-being. The Elder Abuse and Dependent Adult Civil Protection Act (EADACPA) is a key component of California’s legal framework designed to protect individuals aged 65 and older from abuse, neglect and exploitation.
Under this law, elder abuse encompasses physical, emotional, and financial harm, as well as neglect and abandonment. California mandates that certain professionals, such as health care providers and social workers, report suspected abuse to authorities. This mandatory reporting aims to ensure timely intervention and protection for the elderly.
Additionally, victims of elder abuse and their families have the right to seek legal action against perpetrators. The law allows for civil remedies, including compensatory and punitive damages, to hold abusers accountable and provide justice for the victims.
Take Immediate Action When Elder Abuse Is Suspected
If you believe an elder is being financially exploited, swift and informed action can make a meaningful difference. Our attorneys recommend the following steps to protect your loved one and preserve evidence.
Start by:
- Documenting suspicious behavior, transactions or communications
- Speaking privately with the elder to assess their understanding and concerns
- Reviewing estate planning documents for recent changes
- Contacting Adult Protective Services to initiate a formal report
- Consulting an experienced elder law attorney for legal guidance
Time is often a critical factor in a financial elder abuse case. Delays can allow abusers to conceal evidence or transfer assets beyond recovery. A qualified attorney can help you evaluate your options, pursue civil remedies and even coordinate with law enforcement to achieve justice.
You and your loved one need not navigate this alone. Our team is prepared to investigate, advocate and litigate on behalf of vulnerable elders. Your vigilance could be the key to restoring dignity and financial security for someone who deserves protection.
Frequently Asked Questions About Financial Elder Abuse
Our elder abuse attorneys at The Estate Lawyers, APC, understand that there can be a lot of questions if you suspect that an elderly loved one is being financially exploited. Here, they have compiled answers to some of the most commonly asked questions. They also offer an initial consultation appointment to give you a chance to ask questions about your specific circumstances.
What is financial elder abuse and how prevalent is it in California?
Financial elder abuse refers to the illegal or improper use of an elderly person’s funds, property, or assets. Unfortunately, it is a widespread problem in California, with countless vulnerable seniors falling victim to scams, coercion or exploitation. Our experienced elder financial abuse attorneys can help you navigate the complex legal landscape to safeguard your loved one’s financial interests.
What are the warning signs of financial elder abuse?
Recognizing the signs of financial elder abuse is crucial for early intervention. Some common indicators include sudden changes in your loved one’s financial situation, unexplained withdrawals or transfers, modifications to wills or trusts without their understanding and the presence of unfamiliar individuals in their lives. If you suspect any form of financial exploitation, seek legal advice promptly.
How can a conservatorship protect my loved one from financial abuse?
A conservatorship is a legal arrangement where a court appoints a responsible individual or organization to manage the personal and financial affairs of an incapacitated adult. By establishing a conservatorship, you can ensure that your loved one’s interests are safeguarded and prevent unauthorized access to their assets and provide oversight of financial transactions.
Consult An Elder Financial Abuse Attorney For Free
We are happy to offer a one-hour paid consultation that provides significant value. During this time, we will review relevant documents and your unique situation, offer legal advice, and help you decide on the best course of action to resolve your dispute.
For experienced and compassionate representation with an elder abuse lawyer, send us a message through our website form or call us at 866-330-0578 to set up an initial consultation.