Elder Financial Abuse

HS Elder Financial Abuse Practice Grouplong-term

What is financial abuse of the elderly?
Financial exploitation of the elderly or disabled can be perpetrated by a professional, such as an accountant, bookkeeper or attorney, a stranger, a friend, caregiver(s), or even family members. There are laws and legal claims that may be brought to protect elderly and disabled individuals from financial abuse and to allow recovery of lost funds. If someone, be it a family member or friend, stranger or institution, knowingly obtains or uses the elderly or disabled person’s assets, funds, or property with the intent to deprive the individual permanently or temporarily there may be legal claims for related losses.

Where an elderly or disabled individual lacks the capacity to consent to financial transactions or alter financial documents and losses result, there may be serious legal claims for the recovery of property or funds.

Finally, legal action may be taken in the event that there is a breach in the handling of fiduciary duties or by someone holding a power of attorney to protect the financial and property interests of the disabled or elderly.

Signs of financial elder abuse:

  1. Unusual or unaccounted for activity in your bank accounts, i.e. large or numerous withdrawals, attempts to withdraw from your account.
  2. Current bills remain unpaid, in spite of having a financial caretaker.
  3. Caretaker, friend, or family member asks for a secret loan. The fact that the loan must be secret is a possible indicator of lack of intent to repay.
  4. Changes are made to your will or to your power of attorney, in spite of your unwillingness to make changes, or your inability.
  5. The elderly or disabled are lacking food, clothing, or grooming items, despite being able to afford these items.

What to do if there is financial abuse:
If you find yourself or someone you love is the victim of abuse, Henrichsen Siegel, P.L.L.C. provides representation on behalf of victims of elder financial abuse. Neil Henrichsen, an AV Rated attorney, has decades of experience in seeking justice and relief related to financial fraud. For a review of your matter, please call (877) 938-9342 or e-mail Neil Henrichsen at nhenrichsen@hslawyers.com