It is recorded that financial abuse costs senior citizens at least $2.6 billion a year, and it’s possible that this number is even higher owing to cases that go undetected. And only 1 in 44 cases of financial abuse is reported.
Elder financial abuse is becoming a bigger problem, affecting millions of people every year. This kind of abuse includes using an elderly person’s money, property, or assets in a way that is against the law or not right. It can happen in many ways, such as through theft, fraud, deception, or undue control.
Los Angeles financial elder abuse attorney Jeffrey Forer says that one common reason for this case is when an elderly person trusts the wrong person with access to their accounts or assets. So if you or someone you know is elderly and has been a victim of financial abuse, immediately report it to the police. You might also need a lawyer who can help you deal with this case.
Find out how you can ensure that you are making a well-informed decision about safeguarding the financial well-being of your loved one with the help of an experienced financial abuse lawyer.
Table of Contents
Identifying Signs of Elder Financial Abuse
To recognize potential elder financial abuse, pay close attention to sudden, unexplained changes in financial patterns or behavior. Keep an eye out for irregularities such as large withdrawals, unusual purchases, or uncharacteristic generosity towards new acquaintances.
If you notice significant alterations in wills, trusts, or power of attorney documents, it could signal foul play. Be wary of sudden isolation from family and friends, as abusers often try to cut off these vital connections to maintain control.
Another red flag is when the elder seems confused or unaware of the financial decisions they’ve made. Watch for signs of fear or anxiety when discussing money matters, as this could indicate coercion or manipulation. Unexplained loans or debts, especially if they involve a new or untrustworthy acquaintance, should raise suspicion.
Trained staff from Rocky Mountain assisted living in Thornton say that when an elderly person lives in assisted living, nursing homes, or memory care facilities, they can help them recognize the signs, report them, and possibly avoid financial abuse.
Researching Attorney’s Experience and Expertise
Assessing an attorney’s experience and expertise is paramount to ensuring effective legal representation for addressing potential cases of financial exploitation. Look for attorneys with a proven track record in handling elder financial abuse cases specifically. Experience matters greatly in navigating the complexities of these cases and understanding the nuances of elder law. An attorney who’s successfully represented clients in similar situations is more likely to provide you with the best possible outcome.
Consider the attorney’s expertise in elder financial abuse laws and regulations. Ensure that they’re knowledgeable about the relevant state and federal laws that govern elder financial abuse cases. An attorney who stays up-to-date with the latest legal developments in this area will be better equipped to build a strong case on your behalf.
Researching an attorney’s experience and expertise may involve looking into their previous cases, reading client testimonials, and checking their credentials. Don’t hesitate to ask the attorney about their experience and how they plan to approach your elder financial abuse case.
Understanding Legal Fees and Payment Structure
Considering the financial aspect of hiring an elder financial abuse attorney can provide clarity on legal fees and the payment structure. When seeking legal representation, it’s crucial to understand how attorneys charge for their services.
Elder financial abuse cases can be complex, leading to varying fee structures. Some attorneys may work on a contingency basis, where they only get paid if they win the case and receive a percentage of the settlement. Others may charge an hourly rate, billing you for the time spent on your case. Additionally, some attorneys may require a retainer upfront, which is an advance payment for their services.
Make sure to discuss fee arrangements upfront to avoid any surprises later on. It’s essential to inquire about any additional costs, such as court fees, expert witness fees, or administrative expenses. By understanding the legal fees and payment structure from the beginning, you can make an informed decision when selecting an elder financial abuse attorney.
Checking Attorney’s Reputation and Reviews
Understanding how to check an attorney’s reputation and reviews is important when selecting an elder financial abuse attorney. Start by searching online for the attorney’s name along with terms like ‘reviews,’ ‘complaints,’ or ‘feedback.’ Websites like Avvo, Martindale-Hubbell, and even Google reviews can provide insight into the experiences others have had with the attorney. Look for patterns in the feedback, such as consistently positive or negative comments.
Consider checking with your state’s bar association to verify the attorney’s credentials and see if any disciplinary actions have been taken against them. It’s also beneficial to ask for referrals from trusted sources like family, friends, or other attorneys who may have experience with elder financial abuse cases.
Meeting for Initial Consultation and Assessment
Schedule an appointment with the elder financial abuse attorney for an initial consultation and assessment of your case. This meeting is crucial in determining how the attorney can assist you in your elder financial abuse claim.
Prepare for the consultation by gathering any relevant documents, such as financial records, legal documents, and any evidence related to the suspected abuse. During the meeting, be prepared to discuss the details of the abuse, including when and how it occurred, as well as any individuals involved.
Use this opportunity to ask the attorney about their experience handling elder financial abuse cases, their approach to handling such cases, and their fee structure. Additionally, assess how comfortable you feel with the attorney and whether you believe they can effectively represent your interests.
Conclusion
By following these key factors, you can ensure that you find the right attorney to help protect your loved one’s financial well-being and seek justice for any wrongdoing. Remember, taking action against elder financial abuse is crucial in safeguarding the safety and security of vulnerable individuals.
