Financial Elder Abuse happens every day. You hear about scams on the news: a Nigerian Prince, the Jamaican Lottery, a grandchild with an emergency in a foreign country needing a wire transfer or some obscure inheritance. The truth though is that most Financial Elder Abuse is committed by a family member. At Feldman Law Group we help families protect parents and loved ones who’ve been victimized.
In some cases we have been able to have transfer deeds are voided because of the obvious fraud and undue influence. In other cases we have helped establish a conservatorship to protect the remaining assets and prevent further losses. There are other tools available, including retraining orders, that can protect loved ones from becoming victimized.
How can you tell if a loved one has fallen prey to financial elder abuse? There are warning signs. The biggest red flag is isolation. Is someone preventing you from seeing your parent? Do caregivers overreact to requests for basic information? Once an elder becomes isolated, they become even more dependent on the person causing the harm. Parents often don’t want to discuss their estate plans with their children and feel even more strongly about discussing finances. There is a fine line between trying to protect a parent and simply prying. At the same time, it is far worse to have parents lose their financial nest egg. If you suspect abuse, do not hesitate to contact Feldman Law Group for a complimentary consultation.