how to find a good lawyer for possible elder financial abuse

What constitutes financial abuse of the elderly?

Elder financial abuse is defined as someone illegally or improperly using an elder's (aged 60 or older) money or belongings for their own personal use. The financial exploitation of elderly people comes at a great cost: It costs victims as much as $36.5 billion each year, according to the National Council on Aging.Nov 9, 2021

Which 2 of the following are examples of financial elder abuse?

The most common types of financial elder abuse include:Theft. Most often, trusted individuals or unknown thieves use an elder's checks, bank account information, or credit cards to obtain money without permission. ... Fraud. ... Misuse of authority. ... Legal document abuse. ... Extortion and manipulation.May 31, 2017

What are the consequences of financial elder abuse?

A conviction of a misdemeanor charge can result in up to a year in jail and a criminal fine for the wrongdoer. A conviction of a felony related to elder financial abuse may carry a prison sentence of two to four years in prison and fines, in addition to having to give up the stolen assets.

How do you stop elder financial abuse at the hands of loved ones?

If you have an elderly loved one in your life, there are steps you can take to make sure they do not become a victim of abuse....Abandonment.Forge checks.Take retirement or Social Security benefits.Use credit cards.Withdraw from bank accounts.Change names in a Will, life insurance policy, or title to a house.

What is a red flag indicating the potential of financial exploitation?

Sudden changes to legal or financial documents, or suddenly missing documents, are definite red flags. Documents could include estate documents, insurance policies, retirement accounts, etc. Making multiple unexplained trips to attorneys or financial advisers without notice is a warning sign.Nov 24, 2021

Is financial abuse a criminal Offence?

Financial abuse is a form of domestic abuse. It's a crime and should be reported to the police. Financial abuse can take many forms so will look different within different relationships.

What are examples of financial exploitation?

Examples include forgery, misuse or theft of money or possessions; use of coercion or deception to surrender finances or property; or improper use of guardianship or power of attorney.” State laws include criminal law statues and civil law statues.

What to do if someone is taking advantage of the elderly?

What Can I Do If Someone Is Taking Advantage of an Elderly Family Member?Competent vs Incompetent. If the Loved One is incompetent, consider pursuing a guardianship over the Loved One to protect the Loved One.“Bad Actor” ... Revoking Power of Attorney. ... Filing a Lawsuit and reporting the Crime. ... Recourse After Death.Feb 12, 2017

How do I stop my elderly parent from giving me money?

How to Stop an Elderly Parent from Giving Money Away: 6 TipsStart the Conversation About Finances as Soon as Possible. It's much easier to have conversations about finances in the early stages of Alzheimer's disease. ... Block Scam Calls. Add your parents' phone numbers to the National Do Not Call Registry.Dec 9, 2021

How do seniors protect bank accounts?

Here are a few ways you can help guard against financial exploitation:Immediately report abuse. ... Create a power of attorney. ... Set up a joint account. ... Name a trusted contact person. ... Use our award-winning mobile and online banking platforms to keep your account safe. ... Take steps to protect yourself.

How do you stop an elder scammer?

5 ways to protect seniors from elder fraudCheck in regularly. Check on your older adult's financial situation on a regular basis. ... Be aware of elder fraud scams. ... Verify with a trusted individual. ... Remove their name from call lists. ... Get up-to-date fraud prevention tips online.

How can seniors not get scammed?

How to Protect SeniorsBlock solicitations. Opt out of commercial mail solicitations. ... Provide respite for a caregiver. Caregivers who are stressed financially and emotionally can sometimes steal the assets of those they are supposed to be caring for. ... Set up safeguards at the bank. ... Arrange for limited account oversight.Jun 15, 2019

How does an elder abuse lawyer work?

An elderly abuse lawyer works with the victims of abuse and their families to work hard to stop the abuse from occurring and to seek compensation from those who have abused them. They must have skills as a litigator and negotiator, as elder abuse cases must be filed in civil court and settlements must be discussed with defending parties. Often, they work as general personal injury lawyers, as most lawyers do not specialize in elder abuse. The elderly abuse lawyer will have the ability to communicate with abused elderly clients, which requires that the lawyer have a great amount of patience as well as strong interpersonal and communication skills.

Do elder abuse lawyers charge fees?

Elder abuse lawyers may charge various fees from their consultation and legal work they conduct on your case. Always be aware of all rates and fees. A retainer is often required by lawyers who will be working on a case that will require extensive work that is being billed on an hourly basis. It is very important that all rates, bills, and fees are written and that you keep these records in case of a billing dispute.

Who is responsible for elder financial abuse?

Sometimes elder financial abuse is committed by people who are close to – or related to – the victim, such as caregivers, friends, or family members since they have access to the victim’s personal information, accounts, or property.

What is elder financial abuse?

Fraud related to stolen checks or misused credit cards. Embezzlement of funds. Unlawful conversion of property.

Can elder financial abuse be proven?

In many cases of elder financial abuse, relatives of the victim suspect that abuse is taking place but find it difficult to prove it. They may feel they don’t have enough evidence, or they may not have enough understanding of Oklahoma law to know how the perpetrator could be brought to justice.

Is elder abuse a problem in Oklahoma?

Unfortunately, elder financial abuse is a common problem in Oklahoma. Here at Giles Law, we regularly work with the concerned children or relatives of elderly individuals who have become a victim of theft, fraud, and other financial crimes. It can be an incredibly worrying time for all parties involved. Still, with a reputable Oklahoma elder ...

How can an elder law attorney help seniors?

2 ways an elder law attorney helps seniors and family caregivers. 1. Plan for the future and protect assets. An elder law attorney has the expertise to make recommendations on how to plan for future care needs. They often answer questions like:

Who can work with elder law attorneys?

Similarly, financial advisors, accountants, and fiduciaries (someone legally appointed to manage money) are professionals who often work with elder law attorneys. If you know and trust one of these professionals, ask them for a referral. 2. Check the National Academy of of Elder Law Attorneys.

What is elder law?

Elder law is a specialized legal area focused on older adults and their adult children. This legal specialty focuses on specific needs, including: Power of attorney and other important legal documents. Long term care planning and paying for care. Medicare and Medicaid planning.

Why is elder law important?

Having the essential legal documents in place gives you the necessary legal rights to provide the best care for your older adult, now and at the end of life. That’s why it’s so important to find an expert lawyer that you trust to draw up the right documents.

What is elder financial abuse?

Elder financial abuse or exploitation is defined in the Older Americans Act of 2006 as: “The fraudulent or otherwise illegal, unauthorized, or improper act or process of an individual, including a caregiver or fiduciary, that uses the resources of an older individual for monetary or personal benefit, profit, or gain, ...

How can seniors protect themselves from financial abuse?

There are a number of ways in which seniors can better protect themselves from financial abuse. Remain socially active. Isolation is one thing that can contribute to a senior’s financial vulnerability, as being cut off from the outside world can make it more difficult for others to detect warning signs.

What happened to the CEO of a financial services company?

It happened: The CEO of a financial services company in California was charged with conspiracy to commit wire fraud after conning 11 retirees out of more than $4 million. The man, who faces up to 20 years in prison if convicted, solicited the funds to be put into a retirement portfolio.

What are the targets of pyramid schemes?

Senior citizens are popular targets for pyramid schemes and other “get rich quick” schemes. Identity theft. When a victim’s identity is stolen, it can be used to open up fraudulent credit cards or other lines of credit in their name. A senior’s Social Security number is a popular target for scammers.

How does financial abuse affect seniors?

The effects of financial abuse can be extremely negative for a senior. In addition to financial losses, victims may also experience: A loss of trust and an increased skepticism of everyone, even trustworthy friends and family members. Feelings of depression, fear, shame, anger and other negative emotions.

What do thieves call a senior citizen?

Law enforcement . Thieves will sometimes call a senior citizen and pretend to be a law enforcement agent claiming that the senior owes a fine. They may also try to convince a fraud victim that one of their family members is in jail and that the victim should send bail money. Charity.

How much money do older people lose to scams?

Elder financial abuse is big business. It’s estimated that older adults lose more than $36 billion every year to scams, fraud and exploitation.¹ It’s even more alarming that almost half of that money is lost due to tactics that – while deceptive in nature – are technically legal.

What does "one wrong word" mean in elder law?

One wrong word or move can mean the difference between a good result and disaster should you become incapacitated or if other unexpected issues should occur in your senior years.

What do you leave to your loved ones when you die?

Your estate, on the other hand, is what you leave to your loved ones when you die and how you leave it to minimize probate complications and potential estate tax liabilities. Numerous options are available to adjust as economically and efficiently as possible to plan for all eventualities.

Do elder law attorneys charge by the hour?

Many elder law attorneys charge by the hour so you'd only have to pay for their time to deal with the specific issues that are of concern to you. Others offer "package deals.". They'll provide various services under the umbrella of one fee.

Is elder law the same as estate law?

Elder law isn't the same thing as estate law , although they cover some of the same issues. Elder law addresses your finances and property in such a way as to best provide for you and your family while you're still alive.

Can a will be a personal representative?

These laws control who can and cannot serve as a personal representative, trustee, health care surrogate, or attorney-in-fact under a power of attorney.

Can you set up a revocable living trust for someone else?

For example, a revocable living trust can be set up for someone else to take over management of your assets if a time comes when you can no longer do so yourself. An elder law attorney can explain these options to you so you can have a plan in place for such an eventuality.

How Elder Financial Abuse Happens

Elderly people are easy victims for financial abuse for a number of reasons.

How to Identify and Report Elder Financial Exploitation

Financial abuse can be difficult for a victim to identify, or openly seek help for. But there are red flags to watch out for:

How to Prevent Elder Financial Abuse

If you’re a senior worried about becoming a victim of financial exploitation, the NCEA offers these tips to prevent it:

How to Recover from Elder Financial Abuse

Recovering from financial exploitation can be a long and tedious journey. It’s often treated as a civil matter, which means there will be no criminal charges against the abuser.

What happens if an elder takes the property of an elder?

And if a court finds the wrongdoer wrongfully took the elder’s property, then the elder may also be entitled to recover treble damages ( or three times the monies taken, or $300,000) and their attorney’s fees. Due to the potential availability of treble damages, punitive damages, attorney’s fees and costs, the vast majority ...

How long does it take for an elder to settle out of court?

Due to the potential availability of treble damages, punitive damages, attorney’s fees and costs, the vast majority of financial elder abuse cases settle out of court, usually within 12 months. What this means is that an elder’s financial security often can be secured swiftly.

How long does it take to get a case wrapped?

Court cases can take years, although we routinely wrap cases in less than one year. Court also costs more. However, going to court has the advantage of securing a legally enforceable judgment that can be used to force the abuser to repay the funds within a prescribed timeframe or on a set schedule.

Why don't victims file criminal charges?

Why don’t victims file criminal charges? Generally, family members simply want their loved elder’s assets returned. As long as the assets are returned and the elder’s financial future secured the desire to send a family member or trusted family friend to jail wanes.

Is elder abuse a civil matter?

Generally, we see financial elder abuse treated only as a civil matter, which means there is no jail time or criminal record for the abuser. The penalty may be just returning the stolen assets or money. Sometimes, the wrongdoer also may need to pay interest, any gains, treble damages, punitive damages, attorney’s fees and/or costs.

Is financial elder abuse a family affair?

Financial elder abuse is a highly emotional situation, made that much more complicated by the fact that all-too-frequently the abuser is a family member. Due to that familial relationship, it’s only natural that victims are concerned about what will happen to the abuser if an elder financial abuse attorney is hired.

Can elder abuse be a felony?

However if the victim so chooses, and criminal charges are filed, financial elder abuse can lead to misdemeanor and felony charges.