Los Angeles Elder Abuse / Law Attorneys for Financial Abuse and Exploitation

What is Financial Elder Abuse and/or Exploitation?

Financial elder/dependent adult abuse is any theft or embezzlement of money or any other property from an elder. Manipulating an elder to turn over money, is one form of financial abuse. Other examples of financial elder abuse are:

  • Stealing money, jewelry, personal possessions.
  • Intercepting cash or checks.
  • Convincing or tricking an elder to hand over money and/or personal belongings.
  • Telemarketing fraud.
  • Identity theft.
  • Predatory lending and home sale scams.
  • Home improvement scams.
  • Not paying for share of cost in nursing homes.
  • Befriending an elder for elaborate gifts (cars, trips, loans, etc.).
  • Power-of-Attorney, conservatorship or guardianship fraud.
  • Caretakers stating they are having a rough time financially.
  • Cashing checks without authorization/ permission.
  • Forging an elder’s signature.
  • Misusing or stealing an elder’s money or possessions.
  • Coercing or deceiving an elder into signing documents such as a contract or will.
  • Improper use of conservatorship, guardianship, or power-of-attorney.

Who might be an abuser:

  • Family members – may commit financial abuse out of a sense of entitlement.
  • Caretakers – may persuade a client to give him or her money, or steal valuables from the client’s home or room.
  • Neighbors – sometimes have the opportunity to steal from the elderly, particularly if they frequently perform chores for them, and like family caretakers, feel entitled to compensation.
  • Professionals – lawyers, bankers, financial advisors and others find ways to cheat the elderly by engaging in deceptive billing practices or by embezzling funds.

Signs and symptoms of Financial Abuse:

  • Significant withdrawals from the elder’s accounts.
  • Sudden changes in the elder’s financial condition.
  • Providing unnecessary services or subscriptions.
  • Unapproved withdrawals of funds using an ATM card.
  • Unexplained sudden transfer of assets.
  • Elder signs over their will to a neighbor or friend.
  • Appearance of a stranger who begins a new close relationship and offers to manage the elder’s finances and assets.
  • Elder is isolated or lonely with no visitors or relatives. Family members or caregiver isolate the individual, restricting the elder’s contact with others.
  • Items or cash missing from the elder’s household.
  • Adding additional names on a bank signature card.
  • Unpaid bills despite having enough money.

Contact our Los Angeles Financial Abuse and Exploitation Attorneys

Financial abuse/exploitation cases require experienced Los Angeles elder care lawyers because of the level of detail and attention needed to discover the extent of the harm. Many victims aren’t even aware of what constitutes illegal behavior.

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