La Jolla Financial Elder Abuse Lawyer
According to the National Council on Aging, financial elder abuse causes $28.3 billion in losses each year. This abuse can be devastating to the seniors who are harmed, sometimes even causing physical illness and increasing the risk of death due to the stress.
If you or your loved one was the victim of financial elder abuse, you have legal rights. Albertson & Davidson, LLP can help. Our La Jolla estate litigation attorneys will fight to help you recover compensation for the lost assets, as well as to recover compensatory damages, payment for pain and suffering, and potentially punitive damages.
To find out more about how our firm can fight for you, give us a call today to schedule a free consultation with a La Jolla financial elder abuse lawyer.
What is financial elder abuse?
As the Consumer Financial Protection Bureau explains, financial elder abuse occurs when someone takes or misuses money or property that belongs to a senior and uses it for their own benefit. Common examples include:
- Theft or embezzlement: Stealing money, cash, jewelry, or other assets are types of theft. Theft could include everything from pocketing a necklace when caring for a senior to transferring large sums of money out of a retiree’s bank account.
- Fraud: Fraud involves using deception to convince a senior to give you their money or assets. This could include tricking them into giving money during their lifetime or tricking them into changing their will. Forging a senior’s signature on a will is also a type of fraud.
- Coercion: Coercion involves convincing a senior to provide money, property, or other assets using force or threats.
- Power of attorney abuse: A power of attorney is entrusted with power over an elderly person’s assets, but has a fiduciary duty to act in the senior’s best interests. If the fiduciary abuses their privileges to enrich themselves at the expense of the retiree, this is a form of financial elder abuse.
- Identity theft: This includes stealing a senior’s personal information to open up accounts or take out credit in their name.
Albertson & Davidson, LLP can take legal action in these and other situations when a senior’s finances are adversely affected by illegal or unethical behavior.
Who is responsible for financial elder abuse?
Many different parties could be sued for financial elder abuse, including;
- Family members, neighbors, or friends who should be caring for a senior but who misuse their assets.
- Caregivers, including home care aids, nursing home workers, or other health professionals
- Fiduciaries, including an agent with power of attorney or a trustee, who misuse assets
- Financial professionals who facilitate fraudulent transactions or provide improper financial advice.
- Nursing homes for the wrongful acts of their employees on the job
Our La Jolla probate lawyers can help you to identify all parties who could be liable for losses resulting from elder abuse so you can maximize your chances of recovering all of the lost funds, as well as additional compensatory and punitive damages.
Contact a La Jolla financial elder abuse lawyer today
Albertson & Davidson has helped clients to recover millions after being victimized by financial elder abuse. We are ready to put our legal experience to work to help you fight for justice.
Contact us online today to schedule your free consultation with a La Jolla financial elder abuse lawyer on our legal team to find out how we can fight for you.