Recovery Options in Cases of Financial Exploitation
Not all forms of elder abuse result in physical injury or death. Seniors are also highly vulnerable to financial exploitation. If you and your family need to examine your options in cases ranging from undue influence to outright theft by a caregiver or another in a position of trust, discuss your situation with a knowledgeable elder law attorney. Contact the Tucson law firm of Fein, Flynn & Associates for a free consultation about your alternatives for recovery.
Call 520-547-7940 or 800-882-0828 for Advice About Your Rights in Financial Exploitation Cases
In cases of financial abuse and exploitation, there's sometimes a gap between your legal remedies and your practical options. For example, it might be simple enough to prove that a caregiver abused a power of attorney or convenience bank account, but essentially impossible to recover the money in the absence of insurance or a bond. In the worst cases, your only recourse might be limited to restitution as part of the wrongdoer's criminal sentence.
It's by no means unusual for someone to take advantage of a vulnerable senior after winning trust and confidence in the context of a regular personal care relationship. Others, such as dishonest guardians, trustees or attorneys-in-fact, don't even need to develop trust on a personal level with a vulnerable senior. If they choose to abuse their positions in violation of their fiduciary duties, their access to the elder's assets and bank accounts is already in place.
There are many different forms of financial exploitation in Arizona:
- Undue influence in the preparation of a will
- Coercion to revise an existing will in a caregiver's favor
- Forgery or alteration of a will
- Transfer of title to a house or other property to the caregiver
- Theft of valuable objects, such as jewelry
- Abuse of bank accounts, credit cards or investment accounts
In many situations, it's easier to prevent financial exploitation than it is to recover the money that has been stolen after it's spent. Regular review of bank statements, safe-deposit storage of wills or other important documents, and frequent contact with appointed guardians or attorneys in fact can be important steps toward asset protection for vulnerable elders.
Early intervention at the first signs of financial exploitation can also increase the likelihood of a full or substantial recovery. For the advice of a lawyer who can pursue the remedies that make the best sense for your situation, contact Fein, Flynn & Associates in Tucson for a free consultation.
