Financial elder abuse is a growing and deeply troubling problem in California. Every day, hundreds—if not thousands—of elders fall victim to exploitation. Even more disturbing is that the perpetrators are often family members or close friends—people the elder trusts the most.
Financial exploitation can take many forms, from outright theft to subtle manipulation of legal documents. Regardless of the method, the result is the same: an elder’s hard-earned assets are taken without rightful consent.
What Is Financial Elder Abuse?
Under California Welfare and Institutions Code section 15610.30, financial elder abuse occurs when a person or entity:
- Takes, secretes, appropriates, obtains, or retains real or personal property of an elder or dependent adult for a wrongful use or with intent to defraud;
- Assists in any of the above actions; or
- Takes any of the above actions through the use of undue influence.
In simpler terms, if someone wrongfully takes an elder’s money, property, or assets—either directly or indirectly—they may be guilty of financial elder abuse.
Common Examples of Financial Exploitation
Financial abuse isn’t always obvious. While some cases involve blatant theft—like writing checks from an elder’s account or making unauthorized withdrawals—others are far more sophisticated and deceptive:
- Selling assets at below-market value to insiders or shell companies
- Transferring ownership of property through coercion or confusion
- Altering estate planning documents (such as wills or trusts) to benefit the abuser
- Creating complex investment vehicles (like LLCs or partnerships) that quietly siphon funds
At Albertson & Davidson, LLP, we’ve litigated financial elder abuse cases for over 25 years. We’ve seen it all—from invalid estate documents to covert asset transfers hidden behind layers of financial maneuvering.
When Family Members Become the Abusers
What makes these cases especially tragic is the identity of the perpetrators. In many instances, the wrongdoer is a son, daughter, niece, nephew, or longtime family friend. They may take advantage of their close relationship and the elder’s trust, sometimes justifying their actions as “inheritance in advance” or claiming the elder “wanted it that way.”
But regardless of the rationale, financial abuse is never justified—and it’s often devastating to both the elder and their rightful heirs.
What You Can Do If You Suspect Abuse
If you suspect that an elder is being financially exploited, time is of the essence. Here’s what you should do:
- Consult with a qualified elder law or probate litigation attorney immediately.
- Gather documentation—bank records, emails, estate planning documents, and anything that may point to wrongdoing.
- Report the abuse to Adult Protective Services or local law enforcement if appropriate.
- Take legal action, even if the elder has already passed away. It’s not too late to recover stolen assets or challenge fraudulent estate changes.
We’re Here to Help
At Albertson & Davidson, LLP, we’re committed to protecting the rights of elders and their families. Our attorneys have decades of experience litigating complex financial elder abuse cases—and we know how to unravel the most intricate schemes used by wrongdoers.
Don’t wait. If you believe financial abuse has occurred, contact us today for a consultation. Justice delayed is often justice denied—but there are steps you can take now to protect what matters most.
