Financial Abuse of Elders and Dependent Adults

Financial Elder Abuse

Financial elder abuse can be devastating and result in the loss of savings, regular income and even a primary residence. It frequently occurs at the hands of caregivers or trusted acquaintances, sometimes accompanied by physical or emotional abuse. The elderly and dependent adults often do not report these losses, as they may be embarrassed by their mistake or fear losing their independence.

At the Law Offices of Kenny Tan in Diamond Bar, California, you will connect with a lawyer who knows how to protect the rights of financially abused elderly clients and vulnerable adults. Contact our offices to schedule an initial consultation.

Bad things happen when the elderly trust the wrong people

There are many ways in which the assets of the elderly or vulnerable adults can be mismanaged or stolen by unscrupulous parties, including:

• Reverse mortgages: an equity loan made against the home of an elderly person aged 62 or older, paid out in 1 lump sum or in monthly advances. No monthly payments are required. A reverse mortgage must be repaid when the homeowner dies, permanently relocates or sells.
• Transferring funds into bad investments: including poorly-performing stocks or questionable real estate, usually through high pressure sales techniques or blatant intimidation.
• Transferring property or money to caretakers: both the elderly and vulnerable adults rely on the people around them to take care of them. When threats of abandonment are made, they may transfer money or property to a caretaker or acquaintance out of fear.

We are on your side in Financial Elder Abuse Matters

Anyone who conspired to take money or property from an elder or vulnerable adult can be held liable in a civil suit for damages and attorney fees. When you retain the Law Offices of Kenny Tan, our attorneys will take every possible step to get the money or property back.

If you or your senior loved one has been financially abused, contact us as soon as possible. The statute of limitations for pursuing a claim of financial elder abuse or dependent adult abuse is 4 years from the date the plaintiff discovers the abuse, or should have discovered the abuse. After this time you cannot pursue a lawsuit to recover damages.

Fluent in Mandarin