Seniors are one of the most vulnerable groups in society, especially when it comes to financial matters. Sadly, unscrupulous people often prey upon this vulnerability. The perpetrator could be anyone: a spouse, child, caregiver, financial advisor or even a complete stranger. Fortunately, the California legislature has enacted strict measures and laws to protect seniors. If you or someone you know may have been a victim of financial elder abuse, it is imperative that you retain counsel who understands these laws so as to maximize the recovery from the perpetrator.
Types of Financial Elder Abuse
Financial elder abuse takes many forms. A senior may be deceived into entrusting their funds or property to someone they believe has their best interest at heart, or they may not have even noticed that their assets were taken from them because they were solely reliant on someone else to manage their finances.
In particularly heinous cases, the senior may be compelled into giving control of their resources not through a breach of trust, but by threats, intimidation or violence. What all of these cases have in common, however, is that the victim is over the age of 65 and was induced to transfer money, property, or other assets to someone else through fraud, undue influence, trickery, or other unlawful actions.