Financial Abuse

Posted by & filed under Elder Abuse Litigation.

Elderly and dependent adults are vulnerable for many reasons. The impact of the aging process itself, the onset of illness, and extreme loneliness are common factors present in this population, rendering elders vulnerable to victimization. The perpetrators may include their own financial management surrogates (such as agents under durable powers of attorney, conservators, and representative payees), long-term care providers (such as nursing homes), and other persons or entities that provide services to the elderly.

For purposes of EADACPA, “financial abuse” occurs when a person or an entity:

Takes, secretes, appropriates, or retains real or personal property of an elder or a dependent adult for a wrongful use, with intent to defraud; or

Assists in taking, secreting, appropriating, or retaining the property of an elder or a dependent adult for a wrongful use, with intent to defraud.

“Bad faith” occurs if the person or entity knew or should have known that the elder or dependent adult had the right to have the property transferred or made available to him or her or his or her representative. The person or entity should have known of the right if, on the basis of information received by the person or entity, or an authorized third party, it is obvious to a reasonable person that the elder or dependent adult had that right.

Financial abuse is not limited to individuals or entities who are the elder’s caretakers or who stand in a position of trust to the elder. This broad definition of financial abuse makes EADACPA applicable to causes of action such as fraud, constructive fraud, conversion, and unfair business practices perpetrated by any person or entity.

If you or a loved one as been subjected to elder or nursing home abuse, call our office today at 619-615-0767 or contact us online for a free evaluation.