Seniors Targets of Financial Elder Abuse
Strikes Seniors Still At Home Or In Facilities
New CFPB Manual May Help Elderly In Facilities
The San Francisco financial elder abuse attorneys at Evans Law Firm, Inc. see financial elder abuse of seniors who still live in their longtime homes and seniors entrusted to care in nursing homes or assisted care facilities. While isolated seniors are most vulnerable, really any senior can be a target whether living at home alone or in a facility. Our litigators represent California seniors who suffer financial elder abuse at the hands of insurance agents, financial advisors, retirement planners and stockbrokers whether by sales of unsuitable investments including annuities, unauthorized trades, misrepresenting investments, failing to disclose important information, or theft. If you’re the victim of financial elder abuse here in California call us today at (415) 441-8669.
Financial Elder Abuse Victims in Care Facilities
In an attempt to help protect residents of care facilities from financial elder abuse, the Consumer Financial Protection Bureau (CFPB) recently released a manual designed to help assisted living community and nursing home managers spot the signs of financial abuse and protect their residents. Most exploitation complaints to long-term care ombudsmen involve perpetrators from outside the facility, the agency said. Titled “Protecting residents from financial exploitation: A manual for assisted living and nursing facilities,” the new guide outlines ways administrators, social workers and front office personnel in facilities can “create awareness, policies and processes to protect the facility residents.”
The manual walks operators through four pillars of successful intervention:
• Prevent — through awareness and training.
• Recognize — spot the warning signs and take action.
• Record — document your findings.
• Report — tell the appropriate authorities and trigger responses.
How You Can Protect Loved Ones
The new manual may help protect seniors, but the best protection in our experience comes from family and loved ones of seniors. Stay involved in a senior loved one’s life and look for signs of financial abuse. Review bank records and bills continually. Do a background check on anyone you allow in their home to help them. Keep all important financial papers, Social Security numbers, ATM cards and credit cards safely stowed away. Make sure there’s not a lot of cash or jewelry around that can disappear. Most importantly – never ever allow the senior to give a caregiver a Power of Attorney. If you suspect abuse, notify the authorities but also call elder law counsel, like the lawyers at Evans Law Firm, to help you pursue all available remedies against anyone responsible for abuse, including an award of attorneys’ fees and costs for bringing your suit.
If you or someone you love is the victim of any type of financial elder abuse in California, call Ingrid M. Evans and the other Marin County and California securities fraud and financial elder abuse attorneys at Evans Law Firm, Inc. at (415) 441-8669, or by email at <a href=”mailto:firstname.lastname@example.org”>email@example.com</a>. Our attorneys have experience with fraud and financial elder abuse cases and complex qui tam or whistleblower cases including offshore tax avoidance cases, complex financial contract cases and cases against large insurance companies. We can help guide your case through a FINRA Arbitration, jury trial or toward an equitable settlement. We also handle cases involving physical elder abuse, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.