Category: Elder Financial Abuse

ATTORNEY NEWSLETTER Complex, Expensive Insurance Contracts Surrender Penalties On Withdrawals Sales Commissions, Contract Fees And Caps On Returns Life insurance agents often approach older consumers with proposals for deferred annuities as vehicles for retirement income. Deferred annuities are complex insurance products and are not like direct investments in mutual funds, […]

ATTORNEY NEWSLETTER Broad Authority Under Powers Of Attorney Abuse By Self-Dealing Liability Of Appointed Agents For Wrongdoing Financial powers of attorney (POAs) grant full authority over a person’s financial affairs, and medical powers of attorney, known in California as an Advance Health Care Directives (AHCDs), grant authority over medical decisions […]

ATTORNEY NEWSLETTER Case Example  Falsifying Checks And Timesheets Protecting Seniors From Fraud California broadly defines what constitutes financial elder or dependent adult abuse: (a) “Financial abuse” of an elder or dependent adult occurs when a person or entity does any of the following: (1) Takes, secretes, appropriates, obtains, or retains […]

ATTORNEY NEWSLETTER Case Example Financial Abuse Through Opening Joint Accounts Protecting Your Older Loved Ones Fraud by dishonest caregivers ranges from theft of cash, credit cards and checks to elaborate schemes aimed at taking an elderly victim’s entire estate. Online access to an elderly person’s financial accounts is a frequent […]

ATTORNEY NEWSLETTER Theft Of Victim’s Retirement Benefits Alleged Online Access to Benefit Profiles Steps To Prevent Financial Elder Abuse Dishonest caregivers with internet access may gain access to a senior’s pension or Social Security benefit profiles with just a few pieces of important information like the senior’s date of birth […]

ATTORNEY NEWSLETTER Deferred Annuities Are Complex Long-Term Insurance Contracts Penalties On Withdrawals Commissions, Contract Fees, Participation Rates And Caps On Returns Deferred annuities are insurance contracts where the policyholder pays a premium to an insurance carrier now for income payments in the future. Evans Law Firm, Inc. generally recommends against […]

ATTORNEY NEWSLETTER Caregiver Accused Of Forging And Altering Checks Prior Criminal Record $1 Million Missing From 94-Year-Old Victim’s Trust Older victims lose more than $3 billion annually as a result of financial elder abuse, according to FBI and National Institute of Justice statistics. The same sources report that as many […]

ATTORNEY NEWSLETTER Use Of Powers Of Attorney To Steal From Seniors Case Example  Remedies For Victims Financial powers of attorney (POAs) grant full legal authority over a person’s financial affairs, unless the POA expressly limits the appointed agent’s power in some way. The scope of the appointed attorney-in-fact’s powers is […]

ATTORNEY NEWSLETTER Caregiver Entrusted To Pay Victim’s Bills Unpaid Rent Leads To Eviction Caregiver Allegedly Stole Thousands While most financial elder abuse starts out relatively small, the amounts stolen grow over time as the predator gets away with his or her theft. Left undetected, financial elder abuse can go on […]

ATTORNEY NEWSLETTER Case Example Victim Suffered From Dementia Protecting Older Loved Ones According to FBI and National Institute of Justice statistics, as many as one in 10 seniors are victims of financial elder abuse. Their financial predators are most often caregivers or other persons in close proximity to their victims. […]