Financial Elder Abuse—A Problem To Keep An Eye On
Financial Elder Abuse
To most, it is shocking to hear that around 260,000 elders are abused each year… in one state alone. Sadly, studies show just about 1 in 10 elders is abused in their lifetime. And the numbers in reality are far worse; only 1 in 24 cases is ever reported. We at Evans Law Firm advise that you always report any incident of financial elder abuse to the authorities. But California provides additional protections and awards for seniors to you also should pursue all available civil remedies. We here at Evans Law Firm have vast experiences with financial elder abuse cases, representing seniors who have been financially abused by banks, nursing homes, caregivers, family members, insurance agents and others. If you or an elder you know is being abused, call Evans Law Firm, Inc. today at 415-441-8669.
Who, How Much, and How?
These are the first questions that may come to mind when you hear of a case of financial elder abuse. The “who” is often not as difficult to answer, as the majority of elder abuse perpetrators are either related to or know the elder, such as a financial advisor or close friend. Financial elder abuse can cost an elder and his or her family millions, as it is sometimes very difficult to spot the abuse until it is too late. Perpetrators often cozy up to the elder, isolating and manipulating them into thinking they are the only person the elder can turn to. This causes a feeling of dependence, and the elder is more likely to be tricked or guilted into giving the perpetrator what he or she wants. These situations are dangerous, and they are only one type of abuse that we see.
The Bottom Line
Elder abuse comes in all forms, in all numbers, and from all corners. Truly, it can happen to anybody especially if they are isolated, trusting or naïve or if they suffer from cognitive impairment and dependency that often accompany old age. If you are an elder or have an elderly loved one, take the necessary steps for prevention. Check bank statements and be active in their lives, meeting and monitoring people they might meet or spend large quantities of time with. Do background checks on caregivers and advisors. Keep valuables, important papers and credit cards locked up. Keep an eye on expenditures and by all means don’t give anyone a Power of Attorney over your or the senior’s affairs unless you absolutely know you can trust the person appointed. Staying involved and proactive are the best ways to prevent for financial elder abuse of someone you love.
If you or a loved one been the victim of financial elder abuse in Marin County, or in any California county, contact the Evans Law Firm financial elder abuse attorneys at (415) 441-8669, or by email at firstname.lastname@example.org. Our attorneys have experience with complex financial contracts and large insurance companies. We can help guide your case through a jury trial or toward an equitable settlement. We handle cases involving physical and financial elder abuse, qui tam and whistleblower law, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.