Friends Or Foes: Studies In Financial Elder Abuse May Show Fluidity

Financial Elder Abuse

Studies are showing that just around 1 in 5 elders from San Francisco County and beyond are losing funds due to financial elder abuse, a crime that is seemingly running rampant across the country. One recent case in particular demonstrates just how difficult and slippery financial elder abuse and its perpetrators can be.

A recently widowed senior went to her granddaughter for help after believing that she may have been duped out of some money by a friend. Willingly, the granddaughter looked into the situation, finding that “some money” was around $217,000, and the “friend” was not a friend at all. In fact, the individual convinced the widow to give her the money and told her that she would safely invest it for her, earning her some income. In reality, the woman had been pocketing the money with no intent to help the elder whatsoever. She even talked the elder into signing over power of attorney to her years after stealing the money.

This situation cost the senior the loss of her home, along with a good chunk of her retirement savings. She is now one in over 5 million seniors in the country to be financially abused by someone she considered trustworthy and even a friend. Seniors in our community are vulnerable, and to some extent, it is our job to protect them. At Evans Law Firm, we fight to defend the rights of our elderly.

Contact Us

If you or a loved one been the victim of financial elder abuse in San Francisco County or in any California county, contact the Evans Law Firm elder 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.