Fraud leads to elderly victims losing hundreds of thousands of dollars A recent story from Peoria, Illinois is an egregious example of fraud perpetrated through the use of power of attorney documents. A former insurance agent pleaded guilty to four federal criminal counts in U.S. District Court in Peoria. Between February 2001 and July 2016,…Read More »elder abuse, eldercare, financial elder abuse, fraud, power of attorney, power of attorney abuse, power of attorney fraud
financial elder abuse
Financial elder abuse is increasing as the population ages
Financial elder abuse is becoming a very serious matter as the population ages. Seniors are vulnerable to many people who may have an inclination to exploit them in their final years. Some examples of situations where the abuse may take place include predatory marriages, late-life marriages, beneficiary children, or caretakers that the elderly may be heavily reliant on. Powers of attorney for property are sometimes also used to siphon funds away from elderly individuals. The granting of a power of attorney for property should be done with legal advice. The grantor must understand the full extent and wide-ranging consequences of appointing an attorney under a power of attorney.
Financial elder abuse is a serious matter
If you suspect financial elder abuse is taking place, you should contact a lawyer immediately. Charles Ticker is an estate litigation lawyer with over 35 years of experience. Visit tickerlaw.com to schedule a consultation.