ATTORNEY NEWSLETTER

The Growing Problem of Financial Elder Abuse

Financial Elder Abuse

Financial elder abuse is a growing problem in our backyard of Los Angeles, California and across the country as well. Even just the numbers are shocking. For instance, it is estimated that around 5 million seniors are the victims of financial elder abuse per year. It is also estimated that just about 6 in 10 of these cases of financial elder abuse involves a family member or close friend stealing from the senior. And, sadly, only about 1 in 14 cases of financial elder abuse is ever reported. 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.

Possible Signs

With numbers like that, it is important to understand what abuse looks like. One common sign of potential elder abuse is if the senior sort of out of the blue cannot seem to afford expenses that they ordinarily would have had no trouble affording before. Another sign is starting a shared bank account with someone or giving someone access to their check book, credit cards, etc. These types of behaviors can lead to financial abuse very quickly. In the later stages, changes to trusts and wills is a sign of abuse, as is one individual being “gifted” with expensive or sentimental items.

Prevention

As always, prevention is the best medicine for these types of problems. The easiest form of prevention is to stay involved in the senior’s life. Be sure that the people who are spending their time with the elder or even taking care of the elder are doing it with the proper intentions. Never be afraid to background check a caregiver before giving them the opportunity to care for the elder. Additionally, ask the senior if they would consent to you overseeing their finances. Any prevention is good prevention. Call Evans Law Firm at 415-441-8669 if you live in California and are being financially exploited in any way.

Contact Us

If you or a loved one been the victim of financial elder abuse in Los Angeles County, or in any California county, contact the Evans Law Firm financial elder abuse attorneys at (415) 441-8669, or by email at info@evanslaw.com. 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.