Financial Exploitation of Elderly Persons
A great deal of responsibility and trust is given to those who care for the elderly. Sadly, some caretakers, fiduciaries or even other family members abuse this responsibility. It's always disheartening to see elders who worked very hard their entire life, achieved so much to enjoy their later years only to get taken advantage of by their caretakers or fiduciaries.
If you believe that your loved one is the victim of financial exploitation by their caregiver, guardian or even a close family member, Stawicki Law Office can help you bring legal action against the responsible party.
What is Financial Exploitation of the Elderly?
Financial exploitation of the elderly occurs when a person in a position of trust misuses that position of trust to improperly acquire assets or by being named a beneficiary on a transfer on death account, will or trust. This type of financial exploitation usually occurs between a vulnerable adult over 60 years old with reduced mental capacity and a trusted caregiver or adult child who uses their position of trust to deprive the elderly person of critical financial resources and alter their estate plan.
Common Types of Elderly Financial Exlpoitation
Assets are commonly taken by means of deception, false pretenses, coercion, harassment, duress and threats.
Below are the most common forms of financial exploitation the elderly are most vulnerable to:
Signs of Elder Financial Abuse & Exlpoitation
Those looking to abuse the elderly look for individuals who are vulnerable, and in order to stop it on time, one must be aware of their wellbeing and financial health. Abusers can be anyone from a caretaker, family members, to complete strangers.
Signs of elder financial exploitation can be:
Be Vigilant & Take Action
The most susceptible are mentally or physically disabled, isolated, or recently widowed.
If you suspect your loved one is a victim, contact Stawicki Law Office as soon as possible.