Criminal and Civil Laws Against Financial Elder Abuse
Criminal Prosecutions and Civil Recovery
Financial elder abuse is a growing problem throughout California and across the country. The numbers are shocking. Over 5 million seniors are the victims of financial elder abuse every year and 60% of these cases involves a family member or close friend stealing from the senior. Much of financial elder abuse is criminal, plain old outright theft. But behaviors short of criminal such as manipulation and less than full disclosure may violate civil protections against financial elder abuse. Whether the abuse is criminal or civil, financial recovery may be possible. If you or someone you know is the victim of financial elder abuse, call Evans Law Firm today at 415-441-8669. We only represent those in the state of California.
Local police departments, Adult Protective Services, and county prosecutors all take financial elder abuse seriously. Prosecutions for criminal financial elder abuse occur every day in our state under California Penal Code §§ 368 et seq. But criminal prosecutions are lengthy processes and local law enforcement agencies are often over-worked and understaffed to handle all the cases they see. And even if criminal prosecution succeeds in apprehension and punishment of a criminal, there is no guarantee of any financial recovery. We at Evans Law Firm see financial elder abuse cases every day and while we encourage victims and their families to pursue criminal prosecutions where justified we also strongly recommend pursuing all available civil remedies.
Civil Protections and Remedies
California is a leader in protections for senior citizens against financial elder abuse from every corner – insurance agents, annuity salesmen, financial advisors, reverse mortgage companies, banks, stock brokerages and retirement planners. In fact, the Welfare and Institutions Code of California §§ 15610.30 et seq. applies to virtually every business transaction with someone who is 65 years or older. Similarly, under the California Insurance Code, §§ 10127 et seq, a high standard of disclosure is imposed on financial advisors when advising seniors on life insurance and annuities. There are very strict written disclosure requirements and free look periods for life insurance and annuity policies. California Ins. Code § 10127 (life insurance and annuities). For reverse mortgages in California, there are also strict disclosure requirements and a mandatory counseling and free look requirement. California Civil Code § 1923 (reverse mortgages statute). All of these contracts are especially dangerous for seniors and the chances for exploitation, manipulation, and other abusive practices are high. Call Evans Law Firm at 415-441-8669 if you live in California and are being financially exploited in any way.
If you or a loved one been the victim of financial elder abuse in San Mateo 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.