Elder Financial Exploitation Discussed by LA Probate Law
This crime involves illegal and improper use of a senior citizen’s funds, resources and property. Recognizing this crime is easy; however, they mostly happen within the family. Unless other parties observe and get involved, these crimes will go unnoticed. Oftentimes the people who prey on the elderly are family members, neighbors, or caregivers whom the senior trusts and depends on say LA Probate Law. Elder financial abuse is typically committed by a person the elder knows and trusts, such as a family member, friend, caregiver, banker, or nursing home employee. Undue influence, coercion, isolation and manipulation are all weapons used by perpetrators to carry out this abuse. Manipulation may come from more than one individual. A conspiracy to manipulate an elder may develop. Elder financial abuse is not only a crime, but invokes a civil cause of action as well. There are many remedies to stop financial thefts and this article will discuss a powerful law that protects elder victims through civil litigation.
Indicators are signs or clues that abuse has occurred. Some of the indicators listed below can be explained by other causes or factors and no single indicator can be taken as conclusive proof states LA Probate Law. Rather, one should look for patterns or clusters of indicators that suggest a problem. Here are examples of the exploitations these fraudsters commit:-Forging the signature of an elderly to access personal checks, credit cards and other financial accounts; Stealing prized possessions, cash, and pension checks; and Theft of identity. Most victims of this are senile elderly. Some charge excessively for unnecessary healthcare services. While there are those that offer special “prizes”, which in the end forces the elderly to purchase. It is a good thing there are many vigilant bank fraud lawyers who take necessary measures to fight against these problems. Fraudsters take advantage of the elderly’s confinement in a nursing facility and use his identity for personal or business transactions. Sometimes, even healthcare companies are guilty of this crime. Unfortunately, many elder abuse victims suffer in silence. Either they have no family members or friends to turn to, or they think that their cries for help will be ignored and they fear retaliation from their abusers. Some victims of elder abuse aren’t even aware that they are being victimized and so financial exploitations go undetected indefinitely or until it is too late and the damage is already done.
Elder Abuse Prevention
Your actions depend largely on the threat he is facing, real or perceived. If your loved one is the victim of a criminal act, you should contact the local police or sheriff immediately expresses LA Probate Law. Frequently the elderly are victims of a confidence game, shady transaction or even a scheme to change an estate plan. These transactions can frequently be reversed and sometimes assets can be frozen before they are forever lost. In these circumstances, you should also consult with an elder abuse attorney immediately. Keep your communication lines open with your elderly relatives. Check up on them from time to time. Observe, observe, observe! Be perceptive about any behavioral or physical change. Keep an inventory of all jewelry, expensive gadgets, and properties. Make sure all the valuables are stored in a safe place. Do a thorough research on the background of your caregiver! Look for licensed and bonded agency. You may also hire an investigator to examine the credentials of your caregiver. This ensures that your relative is in good hands and the caregiver is not a convicted felon of some sort. It is unadvisable to choose one through an advertisement. When you know somebody who may be a victim of this kind of crime, it would be best to tell the authorities or refer a good bank fraud lawyer who can help them. If you know the family and do not wish to be called as someone who meddles in family affairs, you can search the internet and find anonymous hotlines you can call.
Power of Attorney Abuse
A power of attorney is used to delegate legal authority to another person says LA Probate Law. The principal gives the agent the authority to make legal decisions on his/her behalf, including handling bank accounts, real estate, and other assets. The potential for fraud exists in every power of attorney arrangement, through self-dealing, embezzlement, and unlawful gifting. In some situations, a power of attorney holder will significantly deplete an estate, leaving the heirs of the principal with little or no inheritance. Imposition of constructive or resulting trusts can also be imposed against a defendant. If the defendant wrongfully acquired title to the elder’s real or personal property, then the court can order that the defendant’s interest was solely as a trustee and such property must be returned to the elder. Other ways in which a power of attorney can be abused include changing beneficiary designations on life insurance or annuities, and opening bank accounts with joint title or pay-on-death provisions in favor of the agent. The potential for power of attorney disputes is great, and can lead to lawsuits. Elder financial abuse takes place simply because of a senior citizen’s lagging mental capacity, especially those that are senile. Isolation also plays a role in the abuse. Acting quickly is critical. Action must be taken immediately to stop the perpetrator from stealing any more property or money.
Elder Financial Exploitation Discussed by LA Probate Law
- What Does it Cost to Probate an Estate in California? - January 24, 2023
- What Is Missing in Your Estate Plan? - January 22, 2023
- Common Probate Mistakes and How to Avoid Making Them - January 19, 2023