- Personal identity theft. Identity theft can occur any time personal information is stolen from the elderly individual’s property or obtained online. Perpetrators may use this information to open bank accounts or credit cards. Others may also use this personal information to obtain medical care under the elderly individual’s name.
- Real estate fraud. Family members or caretakers may trick an elderly individual into signing over the deed to their home. Convincing an elderly individual to take out a second mortgage at a high interest rate for the benefit of the perpetrator is also a form of financial elder abuse.
- Unfair roommate situations. Often, an older adult will agree to allow a family member or friend to live in their home as a roommate in exchange for caregiving duties or rent. This may work well for some, but if the roommate fails to uphold their end of the deal, it is a form of abuse and should be reported.
Signs of Financial Elder Abuse
Some warning signs that may indicate elder abuse is occurring are:
- Unusual bank activity, such as unusually frequent or outsized withdrawals of funds without warning
- A new friend or unfamiliar relative that accompanies the older adult to banks and seems to know information about their financial situation
- New account openings followed by increased activity, especially multiple withdrawals
- Missing money from the home that is suspected stolen
- Unauthorized use of a credit card
- Missing or forged checks
- Lack of essentials in a person’s home
- Noticeable change in the older person’s mood or demeanor
- Modifications to a person’s will, trust, deeds, or property titles
How to Report Financial Elder Abuse
In Folsom, CA, report elder abuse to your local law enforcement or Adult Protective Services (APS). Authorities can ensure the abuse stops and pursue potential criminal consequences for the abuser. However, reporting elder abuse to law enforcement is different from seeking a legal, financial remedy for the victim. In order to seek compensation or request the return of funds or property to the victim, it is wise to hire a skilled financial elder abuse lawyer to file a claim against the offender.
In Folsom, California, the statute of limitations requires that you file a claim within four years from when you discover the abuse. If the abuse is currently ongoing, the statute of limitations does not necessarily apply. There are, however, many exceptions to this rule, and it is critical that you speak with a Folsom financial elder abuse attorney to ensure the legitimacy of your claim.
Are you searching for a Folsom, CA financial elder abuse lawyer with the skills and experience necessary to successfully handle your case? The team at McCunn Law is ready to assist you in protecting your elderly loved one from continued financial abuse. Contact our office today to schedule a case evaluation with our compassionate Folsom, CA financial elder abuse attorneys.