Elder financial abuse occurs when someone—usually a scammer—illegally gains access to and abuses an elder’s finances. In some cases, banks and financial institutions may also bear responsibility if they fail to detect or prevent fraudulent activity on an elder’s accounts.
Victims of elder financial abuse can sue the individual responsible or even pursue a claim against a bank that neglected its duty to safeguard its customers. San Francisco elder financial abuse lawyers can identify a liable party and fight for the justice and financial recovery your loved one deserves.
Call us today for a free, no-obligation consultation. Our San Francisco elder abuse lawyers can help you through the legal process. Our team of attorneys has obtained over $1.5 billion in verdicts and settlements.
Types of Elder Financial Abuse Our San Francisco Lawyers have Helped Clients with
Our San Francisco personal injury lawyers have seen elder financial abuse occur in various instances. Scammers often target vulnerable elderly adults and exploit their financial resources.
It can have devastating effects on a loved one’s financial stability and overall well-being. This type of abuse can also occur when a trusted individual, such as a family member, caregiver, or financial advisor, exploits an elderly adult’s vulnerability for their personal gain.
Our San Francisco elder financial abuse attorneys can determine how someone’s illegal behavior or negligence led to your loved one’s losses. Take a look at the following types of financial abuse cases we have handled:
- Fraudulent schemes: This involves scams that trick seniors into giving away money or personal information, such as fake lottery winnings or phishing emails.
- Unauthorized transactions: Scammers may access bank accounts without your loved one’s permission to withdraw funds or make purchases.
- Pressure to change estate plans: Someone may coerce an elderly person to modify wills, trusts, or beneficiary designations.
- Misuse of power of attorney: This form of financial abuse involves using a power of attorney designation to make unauthorized financial decisions that benefit the abuser, in violation of California Probate Code § 4231.5.
- Investment scams: Con artists will often try to persuade seniors to invest in high-risk or fraudulent investment opportunities that promise unrealistic returns.
- Identity theft: Someone may steal an elderly adult’s personal information to open new accounts or access existing financial resources.
- Neglect of financial responsibilities: Caregivers may neglect to pay bills or manage finances properly, leading to financial loss or penalties.
- Theft of personal property: Physically taking money, valuables, or property without consent qualifies as theft.
Actions You Can Take if You Suspect Elder Financial Abuse
Recognizing the signs of elder financial abuse will help you prevent further exploitation. If you suspect that an elderly loved one is suffering financial abuse, it’s important to seek help immediately. Contact Adult Protective Services (APS) to report the abuse and consult a lawyer to help you hold the liable party accountable.
At Arias Sanguinetti, our experienced San Francisco elder financial abuse lawyers are dedicated to protecting seniors’ rights and financial security. We have been in business for over 40 years, and our partners have been practicing law on a national level since the 1980s.
With decades of courtroom experience, we never accept lowball offers and are not afraid to represent our clients in court.
San Francisco Financial Abuse Lawyer Near Me 310-844-9696
Potential Compensation for Elder Financial Abuse
Your loved one may be entitled to various forms of compensation aimed at restoring their financial stability and addressing the harm suffered. Here are some types of compensation that can result from an elder financial abuse case:
- Restitution of lost funds: We can help you recover the actual amount of money lost due to fraudulent activities or unauthorized transactions. This compensation directly addresses the financial harm inflicted by the abuser.
- Punitive damages: Courts may also award penal damages, such as treble damages. Under Civ. Code § 3345, treble damages allows courts to triple the damages awarded in cases involving senior citizens or disabled individuals when the defendant has engaged in wrongful conduct with recklessness, oppression, fraud, or malice.
- Compensation for emotional distress: The psychological impact of financial abuse can be significant. We can seek compensation for emotional suffering, anxiety, and distress caused by the exploitation.
- Loss of future income: If the abuse resulted in decreased earning capacity or loss of valuable assets, your loved one may be entitled to compensation for projected future income losses.
- Costs of recovery services: Your loved one may have incurred expenses related to recovering from financial abuse, such as hiring financial advisors or credit monitoring services. Compensation can help cover these essential costs.
- Diminished quality of life: Financial abuse can severely affect your elderly loved one’s quality of life. We can seek compensation for the loss of access to necessary services or a diminished standard of living.
If you or a loved one has experienced elder financial abuse, our San Francisco elder financial abuse lawyers can help you recover the compensation you deserve.
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Call Arias Sanguinetti for Help from Our San Francisco Elder Financial Abuse Attorney
The San Francisco, CA, elder financial abuse attorneys at Arias Sanguinetti can provide you with dedicated legal representation from start to finish. We emphasize quality over volume, taking on complex cases that require experienced trial lawyers. This ensures our clients receive the focused attention and representation they deserve.
We are committed to justice, accountability, and results when helping our clients recover the compensation they deserve.
Call us today to discuss your case and meet our team. We offer free consultations to help you gain clarity on how to proceed with your case.
Call or text 310-844-9696 or complete a Free Case Evaluation form