As people grow older, they often become susceptible to many forms of abuse and exploitation. Though mental, sexual, or physical abuse of elderly people may come to mind immediately, financial abuse of elders is also, unfortunately, very common.
In addition to unscrupulous scams or identity theft by strangers, the sad truth is that often seemingly well-meaning caretakers, family members, or friends may use undue influence to take charge of the elder’s finances or influence their decisions and proceeds to misuse assets for their own benefit.
The experienced Bellingham financial elder abuse attorneys at Walton Injury Law regularly litigate against financial abusers of the elderly and have recovered millions of dollars for clients through their work in civil and probate courts.
Some elders may simply be naïve or overly trusting of caregivers, family, neighbors, and even strangers. Others may have impaired judgment due to decreasing mental and physical capacity – hearing loss, dementia, diseases, or even prescribed medications that alter their mental state. Still others may be struggling to keep their independence and thus too proud to accept help or heed sound advice.
Whatever their unique circumstances, as a result they may take unwise actions, such as:
- Signing legal or financial documents to their detriment;
- Entering contracts;
- Succumbing to scams;
- Providing personal information that can be used to steal their identity;
- Changing their will;
- Giving away valuables or money; and/or
- Agreeing to questionable investment deals that can threaten their savings.
Legal Options for Victims of Financial Elder Abuse
Washington law provides important protections for vulnerable adults who experience financial exploitation. Depending on the circumstances, victims may pursue civil remedies to recover financial losses, and courts may award damages permitted under Washington law. In some cases, financial exploitation may also result in criminal investigations or protective court orders.
Oftentimes, key legal factors will be considered, such as:
- The perpetrator knew their conduct was directed towards a senior citizen;
- The perpetrator caused the senior citizen an income loss or substantial loss of property set aside for retirement, personal or family care or maintenance, or assets essential to the senior citizen’s health or welfare; and
- The senior citizen was substantially more vulnerable than other members of the public to the conduct because of age or impaired understanding and actually suffered substantial emotional or economic damage resulting from the conduct.
Furthermore, Washington law protects elder assets under the Vulnerable Adult Statue (Chapter 74.34 RCW). An Bellingham attorney experienced in elder abuse can go over your legal options.
Common Warning Signs of Elder Financial Abuse
The more quickly financial abuse of an elder is detected, the better the chances of stopping further financial damage and recovering the victim’s assets. Some abuse can be obvious, such as outright stealing, but often financial abuse of elders is more subtle and centers around deception and coercion. Common indicators may include:
- Theft of money, financial documents, or property;
- Substantial increase in wealth or lifestyle spending of an elder’s caregiver;
- Credit card fraud;
- Identity theft;
- Forging checks or writing checks made out to “cash”;
- Unexplained or sudden changes to an elder’s last will and testament;
- Transfers of deeds to property or titles to assets;
- Unusual account withdrawals in nature or in amount;
- An elder’s surrender of oversight of their financial affairs or bestowing power of attorney; and/or
- Overdue bills and unpaid expenses despite an elder’s demonstrated sufficiency of funds.
Common Elder Abuse Scams in Bellingham
Financial exploitation can take many forms, and the warning signs are not always obvious. Older adults in Bellingham and throughout Whatcom County are frequently targeted through scams involving fake investments, romance scams, contractor fraud, identity theft, misuse of powers of attorney, and unauthorized withdrawals from bank accounts. Family members, caregivers, and other trusted individuals may also abuse their position by pressuring an older adult into changing estate planning documents or transferring valuable assets.
What to Do if You Suspect Financial Elder Abuse
If you believe an older loved one is being financially exploited, acting quickly may help prevent additional losses. Here are a few steps you can take:
- Preserve financial records and account statements.
- Document suspicious withdrawals or property transfers.
- Report suspected financial exploitation to Adult Protective Services or local law enforcement when appropriate.
- Avoid confronting the suspected abuser before before important records have been secured.
- Consult and attorney to discuss options for protecting assets and recovering financial losses.
Protect Your Loved One’s Financial Future with a Bellingham Lawyer
While it is best to take proactive measures to protect yourself or a loved one, unfortunately not all abuse will be prevented before it occurs. If you or an elder loved one has been harmed as a result of another’s exploitation or financial abuse, it is important to speak with an attorney well-versed in handling claims of financial elder abuse.
The experienced, award-winning attorneys at Walton Injury Law regularly litigate against financial abusers of the elderly and have recovered millions of dollars for clients through their work in civil and probate courts. We provide small firm attention while achieving results you would expect from a larger firm, and we are dedicated to vigorously advocating for our clients and securing the best possible results for each case.
Contact us today to set up a free, no obligation consultation. Let our experienced attorneys review your unique case and give you the guidance you need to get the compensation you deserve. There is no fee unless we win your case. To schedule your initial consultation, call us 24 hours a day, 7 days a week at (866) 338-7079 or fill out our online contact form to get started.