Financial Elder Abuse and Senior Fraud in California

California has a growing senior population, and unfortunately, with that comes an increase in financial elder abuse and fraud targeting vulnerable older adults. At KAASS LAW, we are dedicated to protecting the rights and well-being of seniors. The following will explore the issue of financial elder abuse and fraud in California, providing information on how to recognize, prevent, and address this growing problem.

What Is Financial Elder Abuse or Senior Fraud in California?

Financial elder abuse or senior fraud can take different forms and can be committed by caregivers, family members, strangers, or any other people known to the elder. Financial abuse may have the same impact as physical abuse.

Elements of Elder Financial Abuse

According to CACI 3100, in case the plaintiff claims that the defendant violated the Elder Abuse and Dependent Adult Civil Protection Act by taking financial advantage of him, he must prove the following elements to establish this claim:

• Defendant took, hid, appropriated, obtained, or retained the plaintiff’s property; or
• assisted in taking, hiding, appropriating, obtaining, or retaining the plaintiff’s property;
• The plaintiff was sixty-five years of age or older at the time of the conduct;
• Defendant took, hid, appropriated, obtained, or retained/assisted in taking, hiding, appropriating, obtaining, or retaining the property for wrongful use or with the intent to defraud or by undue influence;
• The plaintiff was harmed, and
• The defendant’s conduct was a substantial factor in harming the plaintiff.

The plaintiff can establish the defendant’s illegal conduct by proving that he knew or should have reasonably known that his actions were likely to be harmful to the plaintiff. Such as, the defendant took, hid, appropriated, obtained, or retained the property in case the plaintiff was deprived of the property by an agreement, will, gift, or trust, regardless of whether the property was held by the plaintiff or by his representative. A representative is an individual or an entity, or that is either:

• A trustee;
• A conservator;
• Another representative of the estate of an elder or
• An attorney-in-fact is an elder who acts within the authority of the power of attorney

A false misrepresentation lawyer can take a look into your situation for you if you feel as though you need legal assistance.

What is Undue Influence?

According to California Civil Code Section 1575, undue influence is a misuse of a person’s power and role to exploit the dependency, trust, or fear of another person in order to misleadingly gain control over that person’s decision-making and obtaining an unfair advantage over him/her.

Examples of Elder’s Financial Abuse

Recognizing the signs of financial elder abuse is crucial for intervention and protection. Some red flags include:

• Unexplained changes in bank accounts or financial documents: Sudden withdrawals, unusual transactions, or changes in beneficiaries.
• Missing personal belongings or property: Disappearance of valuables, jewelry, or important documents.
• Unpaid bills or overdue notices: Neglect of financial obligations or signs of financial distress.
• Changes in living conditions or lifestyle: A decline in living standards despite adequate financial resources.
• Suspicious signatures or changes in legal documents: Signatures that don’t match the elder’s usual handwriting or unexplained changes in wills or trusts.
• Isolation from family and friends: A caregiver or new acquaintance isolating the elder from their support network.
• Reluctance to discuss financial matters: The elder becoming evasive or secretive about their finances.

Preventing Financial Elder Abuse

There are several steps you can take to protect yourself or your loved ones from financial elder abuse:

• Stay informed: Educate yourself about common scams and fraud schemes targeting seniors.
• Protect personal information: Be cautious about sharing personal or financial information over the phone or online.
• Monitor finances regularly: Review bank statements, credit card statements, and other financial documents for any suspicious activity.
• Seek trusted advice: Consult with a trusted financial advisor or attorney before making significant financial decisions.
• Maintain social connections: Stay connected with family and friends to reduce isolation and vulnerability.
• Consider a durable power of attorney: Appoint a trusted person to manage your finances if you become unable to do so yourself.

Statute of Limitations for Elder Financial Abuse

According to California Welfare and Institutions Code Section 15657.7 for financial elder abuse claims, the statute of limitations is four years. The statute of limitation beings to run from the time the plaintiff discovers the facts, constituting financial abuse, or when the abuse should have been discovered with reasonable diligence.

Remedies for Elder Financial Abuse

Civil remedies for elder financial abuse include:

• Compensatory damages;
• Punitive damages for fraud, breach of fiduciary duty;
• Restitution;
• Reasonable attorney fees and costs; and/or
• Equitable remedies

Glendale Elder Financial Abuse Attorney

At KAASS LAW, we commit to protecting the rights and well-being of seniors. If you or a loved one has been a victim of financial elder abuse or fraud, contact us today. We can help you understand your legal options and fight for the justice you deserve.

If you believe that you or someone you know have been a victim of elder financial abuse, we invite you to contact our Glendale elder financial abuse attorneys at (310) 943-1171, for a free consultation.