• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Who We Are
    • About Our Firm
    • Attorney and Staff Profiles
    • Scott P. Schomer Certified As Specialist In Estate Planning, Trust And Probate Law
    • Trust and Probate Litigation: Verdicts and Settlements
  • Services
    • Estate Planning
    • Probate
    • Trust Administration
    • Trust, Probate and Estate Litigation
    • Family-Owned Businesses
    • IRA & Retirement Planning
    • LGBTQ Estate Planning
    • Loss of a Loved One
    • Power of Attorney
    • SECURE Act
    • Special Needs Planning
    • Asset Protection & Business Planning
    • Estate and Gift Tax Figures
    • Young Families
  • Probate
    • Is Probate Always Necessary In California?
    • Probate & Estate Planning Savings Calculator
    • Probate Administration
    • Probate Code 850 Petitions
    • Probate Disputes
    • Probate In California
    • Probate Laws
    • Probate Litigation
    • Why Hire A Probate Attorney
  • Elder Law
    • Conservatorship
    • Coping with Alzheimer’s
    • Estate Planning
  • Resources
    • Elder Law
      • Elder Law & Medi-Cal Definitions
      • Elder Law Reports
    • Estate Planning
      • Estate Planning Articles
      • Estate Planning Checkup
      • Estate Planning Definitions
      • Estate Planning Reports
        • Advanced Estate Planning
        • Basic Estate Planning
        • Estate Planning for Niches
        • Trust Administration
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Special Needs Planning Can Protect Benefits
      • Top 10 Estate and Legacy Planning Techniques
    • Free Estate Planning Worksheet
    • Free Seminars
      • Webinars
    • Frequently Asked Questions
      • Advance Health Care Directives
      • Asset Protection
      • California Adult Conservatorship
      • Estate Planning
      • Estate Planning & Remarriage
      • Frequently Asked Questions For Families Without An Estate Plan
      • In-Home Elder Care
      • IRA Inheritance Planning
      • IRA & SECURE Act
      • Irrevocable Trust
      • Last Will and Testament
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Living Trust
      • Probate
      • Special Needs Planning
      • Trusts
      • Trust Administration
      • Wills
    • Newsletters
    • Pre Consultation Form
    • Presentations
    • Published Book
    • Trust Administration & Probate Resources
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss of a Loved One
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
  • Reviews
    • Our Reviews
    • Review Us
  • Communities We Serve
    • Los Angeles County
      • Bellflower
      • Cerritos
      • El Segundo
        • El Segundo Probate Resources
      • Hawthorne
      • Inglewood
      • Long Beach
        • Long Beach Elder Resources
        • Long Beach Probate Resources
      • Manhattan Beach
      • Playa del Rey
      • Santa Monica
      • Westchester
        • Westchester Elder Resources
        • Westchester Probate Resources
    • Orange County
      • Anaheim
      • Buena Park
      • Cypress
      • Fountain Valley
      • Garden Grove
      • Huntington Beach
        • Huntington Beach Elder Resources
        • Huntington Beach Probate Resources
      • Los Alamitos
        • Los Alamitos Probate Resources
      • Rossmoor
      • Stanton
      • Seal Beach
      • Westminster
  • Contact Us
  • BLOG
  • Videos

Schomer Law Group, Los Angeles Estate Planning and Elder Law and Elder Law Attorneys

Schomer Law Group, Los Angeles Estate Planning and Elder Law and Elder Law Attorneys

Connect With Us Today (310) 337-7696

Attend a Free Event
Home » Uncategorized » Elder Financial Abuse California Attorneys Know the Signs

Elder Financial Abuse California Attorneys Know the Signs

July 18, 2016Uncategorized, Elder Law

elder financial abuse California Elder abuse is not limited to physical violence or neglect.  Because seniors are also susceptible to elder financial abuse California attorneys know the signs and can help you determine whether you need to be concerned.  According to a 2013 study, millions of elderly citizens are victims of financial abuse, including “unfair, deceptive, or abusive practices.”  It is estimated that this elder financial abuse results in an average loss or more than $140,000 per victim.

An example of financial abuse in California

You may have heard of the insurance agent in Southern California who was arrested for elder financial abuse.  John Paul Slawinski was charged with “five felony counts of financial elder abuse and five counts of burglary.”  It was alleged that he scammed senior citizens out of more than $2 million through the sale and surrender of investment annuity products.

Complaints received by the California Department of Insurance resulted in an investigation of Slawinski.  According to the complaints, the insurance agent had convinced five seniors to give up annuities and investments based on the promise of higher returns on their money.  The catch was, Slawinksi never purchased additional annuities or investment products and he never gave back the funds.  In other words, he defrauded the customers into giving him money to invest, with which he never intended to actually invest.

How did the insurance agent pull off the fraud?

Slawinski allegedly gave each of the seniors fraudulent financial statements in an effort to cover up his deceit.  He then issued minimum investment payments in order to convince them that their insurance investments were secure.  Based on the allegations, the insurance agent took advantage of being in a position of trust, as well as, preying on the vulnerability of the elderly.

Who are considered the “easy marks” for financial fraud and abuse?

According to a study conducted a few years ago by MetLife Mature Market Institute, elder financial abuse costs seniors close to $3 billion a year. Statistically, it seems women are twice as likely to become victims as men, with most people being between the ages of 80 and 89, living alone, and requiring some level of help with either health care or home maintenance.  Because of their particular state of vulnerability, the elderly are often seen as “easy marks.”

Elder financial abuse California residents suffer may be understated

The reality is, many cases of elder financial abuse go unreported. Why?  Many victims do not report the financial abuse because they are ashamed. While others suffer from diminished mental capacity and do not even realize they have been taken advantage of.  Some are afraid to report the abuse because they fear being placed in a nursing home by family members who believe they can no longer take care of themselves.

Often abuse comes from family members

Unfortunately, it is all too common for seniors to be exploited by their own family members.  Relatives and caregivers are often those with the closest and easiest access to potential victims.  While some reports say nearly one-third of elder financial abuse comes at the hands of a family member, this number may not really be accurate as seniors are typically hesitant to report their relatives.

Awareness is the key to prevention

If you are a loved one or caregiver, here are some of the most common warning signs of potential elder financial fraud and abuse:

  • Unexplained bank withdrawals.
  • Unauthorized use of a credit or ATM card.
  • Stolen or misplaced credit cards or a checkbook.
  • Unexplained withdrawals from brokerage accounts.
  • Checks written as “cash,” “loan” or “gift.”
  • Abrupt changes in a will or other documents.
  • Unexplained transfer of assets to a family member or someone outside the family.
  • The disappearance of valuables.
  • The sudden appearance of a previously uninvolved relative claiming a right to an elder’s affairs or possessions.
  • New signers on accounts

Basically, if you, a loved one or an elderly neighbor or friend has become a victim of financial abuse, the first step is to contact the authorities. These predators rely on the silence of their victims to continue to prey on others.  If you have concerns but are not sure whether abuse is actually occurring, contact your elder law attorney to discuss the situation.

FREE estate planning worksheet!  If you have questions regarding elder abuse, or any other elder law needs, please contact the experienced attorneys at Schomer Law Group for a consultation, either online or by calling us at (310) 337-7696.

  • Author
  • Recent Posts
Scott Schomer, Estate Planning Attorney
Scott Schomer, Estate Planning Attorney
A graduate of Boston University School of Law, Scott P. Schomer is a frequent lecturer on estate planning and elder law issues, having discussed these important issues on local and national television. A seasoned courtroom advocate, Scott has obtained combined judgments and verdicts in excess of twenty-five million dollars for his clients. Scott has served as a member of the Los Angeles Superior Court Probate Volunteer Panel (PVP Attorney), Probate Settlement Panel and a Judge Pro Tempore. Scott's expertise has been recognized by his peers with such accolades as a life-time membership in the Multi-Million Dollar Advocates Forum, the Five Star Wealth Manager designation, and repeated nominations as California Super Lawyer.
Scott Schomer, Estate Planning Attorney
Latest posts by Scott Schomer, Estate Planning Attorney (see all)
  • Things You May Need to Update in Your Estate Plan When You Enter Retirement - March 22, 2023
  • 10 Estate Planning Tips You Cannot Afford to Ignore - March 21, 2023
  • 7 Estate Planning Steps for the Beginner - March 16, 2023

Other Articles You May Find Useful

digital assets
Protecting Your Digital Assets: What Happens to Your Online Accounts After You Pass Away?
Peace of Mind in Contentious Probates: Why a Professional Fiduciary is Essential
Peace of Mind in Contentious Probates: Why a Professional Fiduciary is Essential
Los Angeles estate planning attorneys
Expertise, Objectivity, and Efficiency: Why Single Individuals Need a Professional Fiduciary in their Estate Plan
Los Angeles estate planning attorneys
Single Parents: Why You Need to Create a Legal Plan for Your Children’s Care
Why Los Angeles Probates are So Lengthy: Understanding the Reasons Behind the Delays
Why Los Angeles Probates are So Lengthy: Understanding the Reasons Behind the Delays
Estate Planning Webinar
Estate Planning Webinars: A Time and Money-Saving Solution

Primary Sidebar

Schomer Law Group, Los Angeles Estate Planning, Probate, and Elder Law Attorneys

Schomer Law Group

Subscribe To Our Blog

Sign up using the form below to get our latest estate planning updates!

  • This field is for validation purposes and should be left unchanged.

Testimonials

Client Review
July 29, 2020
    

We need to update our Living Trust and attended Schomer Law Group’s seminar. Afterwards we made an appointment and were impressed by the attention Scott Schomer and Liran Aliav gave to our case answering all questions and making suggestions how to minimize the estate tax. All the office staff is very friendly and we highly recommend Schomer Law Group.

Frank & Jutta R
Client Review
July 29, 2020
    

Mr. Schomer does an amazing job at explaining all the intricacies of establishing a trust. He and his team help you every step of the way so you always know what to expect and what you are preparing for. Best education you can get and the best gift you can give your family.

Paula M.
Client Review
July 29, 2020
    

We put off getting a trust for years. After attending a seminar with Scott Schomer we realized that the time had come to get a trust. We were given very good reasons for why we should get a trust. No pressure, just the plain facts. We are very relieved and happy to finally get our trust. Scott and Cesar were very knowledgeable, helpful and listened to our ideas of what we had to say. Any questions that we have now and in the future they are available to assist us to solve them. I recommend the Schomer Law Group and I wish we knew about them years ago.

Phillip G.
Client Review
July 29, 2020
    

When you’re presented with an invitation to attend in a mailer, you may have reservations, this was a truly gift!! My wife and I were educated and guided through the process of creating a family trust.
Both of our parents had attorney’s that “worked” with wills/trusts, but came up short. Fortunately, the Schomer Law Group was there! This is a group of attorney’s that only specialize in estate planning, law, and financial advice, so you know you’re getting expert and personalized advice. This is the best money we’ve ever spent!! Thank you!

Bob L.
Client Review
July 29, 2020
    

We knew we had to update our 10 year old ( 20 page ) trust. After several detailed meetings, Liran and Cesar produced a large ( 300 pages + ) highly detailed trust document that we have used to make sure our family estate is well managed and clearly understood.
They were all very helpful in answering myriad questions and explaining all the various options…

We would strongly recommend the Schomer Law Group to anyone with an estate of even modest means, to assure proper planning…

Bob S.
Client Review
July 29, 2020
    

We had contemplated updating our will and starting a trust for a number of years. After attending a talk by Scott Schomer we realized we were long overdue and the potential downside of not having our affairs in order was significant. Scott and his excellent team made the process simple and seamless. They were great listeners, addressed all our concerns and even pulled and processed all the paperwork from our financial institutions. If you are looking for assistance with estate planning, wills and trusts, we highly recommend Schomer Law Group.

Robert F.
Client Review
July 29, 2020
    

Very competent & informative – friendly atmosphere – ready to answer the most mundane questions – relaxed.

Joan S.
Client Review
July 29, 2020
    

Mr. Schomer was excellent in getting our family trust and estate affairs in order. My husband and I had put off doing this and Scott really made the process easy! He is very passionate in making sure his clients get all that they need and we really appreciated it. I would highly recommend him and look forward to the many years he will be available to assist our family.

Kim

Follow Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
  • Instagram
  • Pinterest

Office Address

El Segundo
2155 Campus Drive
Suite 250,
El Segundo, CA 90245
Phone: (310) 337-7696
Fax: 310-337-1277

See Larger Map Get Directions

Office Hours

Monday9:00 AM - 6:00 PM
Tuesday9:00 AM - 6:00 PM
Wednesday9:00 AM - 6:00 PM
Thursday9:00 AM - 6:00 PM
Friday9:00 AM - 6:00 PM

Footer

  • Advantages of Working With Our Firm
  • About The American Academy
  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Schomer Law Group

Connect with Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
  • Instagram
  • Pinterest

footer-logo
© 2023 American Academy of Estate Planning Attorneys, Inc.

Schomer Law Group

Attorney Advertisement.

© 2023 American Academy of Estate Planning Attorneys, Inc.