Placer, CA Financial Elder Abuse Attorneys

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Placer, CA Financial Elder Abuse Lawyer

Financial elder abuse, sometimes known as senior fraud or senior financial abuse, is a problem that is more common in Placer, CA than you might think. Unfortunately, many seniors in the area entrust their finances to relatives or others with whom they have a close relationship, and these individuals often take unfair advantage. A close relationship with the perpetrator can make the crime difficult for the victim to accept and report.

If left unaddressed by professionals, a victim of financial elder abuse can experience ongoing financial distress and long-lasting impacts. In addition to the financial consequences, many financial elder abuse victims experience emotional and physical impacts. That is why it is important to address the issue with local authorities and seek help from a Placer, CA financial elder abuse attorney as soon as possible.

Placer, CA Financial Elder Abuse Lawyer You Can Trust Call (916) 827-3427

What Is Financial Elder Abuse?

Financial elder abuse is defined as a situation where someone takes advantage of an elderly adult for unfair monetary gain. In many cases, offenders have close access to the elderly individual’s financial assets and can include family members, close friends, neighbors, business partners, and caregivers. In some instances, offenders can even be complete strangers.

Common Types of Financial Elder Abuse

Financial elder abuse occurs in many ways. Almost all cases involve some type of trickery, fraud, deceit, or unauthorized use of a person’s assets. Some of the most common ways this type of abuse occurs are as follows:

  • Identity theft. Identity theft often occurs when someone steals private property like a wallet or a purse from an elderly individual. Alternatively, the offender may obtain personal information like account numbers, social security numbers, or bank account details from private documents. Often the offender will illegally access the victim’s personal accounts, or they may use the victim’s information to impersonate the older adult.
  • Real estate fraud. Real estate fraud occurs when an offender coerces an elderly adult into selling their personal property or land for far less than its fair value. In some cases, family members attempt to talk an older adult into giving away a home upon entering a senior living facility or nursing home.
  • Violence or threats to obtain assets. In some cases, offenders will threaten violence towards an older adult to obtain access to money or financial accounts. In some cases, an offender will threaten to withhold care or basic needs from the older adult until they meet the demands. This situation most often occurs in cases where the elderly individual is physically disabled or has cognitive impairment.
  • Stolen or forged checks. Stolen checks or account information can slowly drain the elderly individual’s accounts over time or may result in one large withdrawal. In some cases, if a caretaker or family member oversees sorting mail, an offender can endorse and cash checks in the elderly individual’s name.
  • Internet scams. Internet scams have recently increased in the Placer, CA area. Many older adults are not fully aware of internet protocols and may not be computer savvy enough to identify suspicious or scam-containing emails. In most cases, the perpetrator will manipulate the victim into turning over personal information like credit card numbers, social security numbers, and financial information.
  • Investment fraud. Elderly investment fraud usually involves a friend or family member manipulating the older adult into a high-risk investment deal that is dangerous to their financial status. However, the investment may lead to the offender’s financial gain.

Why Older Adults are Vulnerable to Financial Elder Abuse in Placer, CA

Anyone can be a victim of financial elder abuse in Placer, CA, but seniors are often an easy target due to these reasons:

  • Wealth. Many elderly individuals receive frequent financial contributions from retirement, investment, and even disability payments. Or, perhaps they simply saved and spent less frivolously than others. Unfortunately, some individuals see these savings and investment accounts as a source of untapped wealth.
  • Trust. Many elderly individuals are trusting, especially when it comes to their family members and close friends. Unfortunately, misplaced trust can result in years of hidden financial abuse by caretakers or family members before they realize anything is wrong.
  • Poor financial decisions. Declining mental status or confusion can lead to poor financial decisions. Often, older adults making poor financial decisions do so because they were misled or did not fully understand the circumstances. Alternatively, seniors may become physically incapacitated and entrust their financial future to unscrupulous individuals.

How Can You Protect Yourself from Financial Elder Abuse in Placer, CA?

Fortunately, there are a few steps you can take to protect you and your loved ones from financial elder abuse:

  • Avoid joint bank accounts. Including someone else’s name on your bank account allows them unlimited access to your funds without having to ask your permission. If you find you need to include a family member on your bank account, establish yourself as the primary contact on the account and request notification if anyone else is trying to make transactions on your behalf.
  • Avoid unfair living arrangements. Often an older adult will share their home with a family member or close friend in exchange for caregiving services, rent, or assistance with utility bills. This may work for some but could backfire if the “roommate” fails to uphold their end of the deal. Always ensure you establish a legal agreement with anyone you invite to live in your home.
  • Invoke a power of attorney. Determining a Power of Attorney is a proactive way to establish a trustworthy person to make financial decisions on your behalf. However, they may only do so if you are no longer able to make decisions yourself due to mental or physical decline. You will need to contact an experienced attorney for help establishing a trusted individual as your power of attorney.
  • Remain socially active. When you are isolated, it makes you more vulnerable to financial elder abuse. It is also more difficult for others to pick up cues that something may be wrong. Staying connected helps ensure you have access to resources if you feel something is wrong and enables others to provide safeguards against abuse.

If you feel you or a loved one have fallen victim to financial elder abuse in Placer, CA, your first step should be to contact the local authorities and Adult Protective Services. Then, seek legal advice from a trusted Placer, CA financial elder abuse lawyer. The compassionate professionals at McCunn Law can help you determine the losses you have experienced and help you seek fair compensation to replace your missing assets. Contact us today for more information or a free consultation.

Why Choose McCunn Law

Our methods for handling business owner divorce and family law issues are unique. We offer legal assistance for a range of family law cases, including:

Mr. McCunn specializes in a holistic, project management approach which empowers you to make your own decisions throughout the process. He has a reputation as a peacemaker and his honest and pragmatic attitude towards divorce and other family law issues ensures you only pay for the services you need during your case.

“McCunn Law is a high-quality and highly knowledgeable legal team. I went into a consultation regarding child custody and was extremely happy with the plan and ultimately the results of my case. They create a plan with the client’s needs and wants in mind. Drummond is also great working with regarding what kind of budget a client would be able to afford. If I have any more legal needs in the future this is the office I will use every time.”

Megan P.

“McCunn Law is a high-quality and highly knowledgeable legal team. I went into a consultation regarding child custody and was extremely happy with the plan and ultimately the results of my case. They create a plan with the client’s needs and wants in mind. Drummond is also great working with regarding what kind of budget a client would be able to afford. If I have any more legal needs in the future this is the office I will use every time.”

Megan P.

“McCunn Law is a high-quality and highly knowledgeable legal team. I went into a consultation regarding child custody and was extremely happy with the plan and ultimately the results of my case. They create a plan with the client’s needs and wants in mind. Drummond is also great working with regarding what kind of budget a client would be able to afford. If I have any more legal needs in the future this is the office I will use every time.”

Megan P.