ATTORNEY NEWSLETTER
Abuser Opened Joint Bank Account With VIctim
Abuser Allegedly Withdrew 100% of Funds In Four Months
Protecting Older Loved Ones
Seniors are at risk of being financially exploited from many directions, including at the hands of dishonest in-home caregivers, stepchildren, second spouses, “friends” and others. The methods for financially exploiting seniors vary from straight theft of cash or checks, forgeries, and unauthorized bank account transfers. One tactic abusers often use is to create a “joint” account with their intended victim so that the abuser has direct access to the joint account funds. We see this all the time at Evans Law Firm, and have seen cases where the abuser withdraws hundreds of thousands of dollars from the supposed “joint” account. The most reliable way to protect your older loved ones from any form of exploitation is to keep a senior’s financial, business and money well away from potential abusers. Never ever allow a senior loved one to give a caregiver a Power of Attorney or create a joint account with a caregiver or other stranger, stepchild or new found “friend.” Routinely monitor a senior’s bank accounts, check that the title of the accounts has not changed, and check where their Social Security or other benefit money is being deposited. If you or a loved one has been the victim of financial elder abuse in San Francisco, call us today at (415)441-8669. We will pursue all persons responsible for a senior’s injury. Our toll-free number is 1-888-50EVANS (888-503-8267).
Recent Arrest[1]
According to newspaper reports, a man was arrested and charged for allegedly exploiting his 95-year-old mother out of at least $50,000 recently. According to a press release from authorities, the victim had been living alone after the death of her 92-year-old husband after 40 years of marriage. His death was indirectly related to a fall at their apartment complex due to a lack of adequate railings. The lawsuit filed after her husband’s death led to a $155,000 settlement, which netted the victim about $57,000 after all outstanding medical and care bills were paid.
The woman, who now lived alone in her rented apartment, was described as “self-sufficient, independent, and ambulatory,” and she could do everyday tasks independently. According to authorities, the $57,000 left over from the settlement, including her husband’s Social Security benefits, allowed her to pay her monthly expenses and other daily expenditures. Police say an estranged son of the victim suddenly began to take an interest in his mother and convinced her that he was able to assist her. As a result, police say he was then added to the victim’s account and helped her move the settlement money into a joint account, depositing $50,000. Then, with a few months the victim’s account balance decreased to $0. The son was arrested and charged with multiple counts of theft and financial elder abuse. Charges are pending.
Protecting Older Loved Ones
Access to bank accounts, surreptitiously or by creating “joint” accounts, is a very common method of financial elder abuse. By closely monitoring bank activity and having a system for alerts on all accounts family members of an older person should be able to catch suspicious activity. Additionally, do not have cash accessible to any caregiver as there is no way you can police that remotely and if it’s gone, it’s gone. Unscrupulous caregivers of a senior may also cajole a senior into opening new or joint bank accounts that you will not know about. Make it a hard and fast rule that your older loved one not making any bank or business trips without you present. Monitor credit cards and bank accounts online as frequently as possible. Have financial statements and important papers mailed to your own address so others do not have access to you loved one’s business mail. Never, ever grant a power of attorney to a caregiver or nursing home staff member or allow your loved one to open a joint account with someone else. Accompany older loved ones whenever they go shopping or go to the bank or have any sort of meeting about financial matters.
Contact Us
If you suspect financial elder abuse of a loved one, friend or neighbor in San Francisco, call Ingrid M. Evans at Evans Law Firm, Inc. at (415) 441-8669, or by email at info@evanslaw.com. Our toll-free number is 1-888-50EVANS (888-503-8267). Ingrid pursues all available remedies for families and injured seniors against those responsible, including an award of attorneys’ fees and costs for the victim or his or her family. Cal. Welf. & Inst. Code § 15657.5.
[1] Evans Law Firm, Inc. was not involved in the reported case in any way.
