Fighting to Protect Elders' Financial Rights
Financial elder abuse can result in the loss of savings, regular income and even a primary residence. This type of mistreatment frequently occurs at the hands of caregivers or trusted acquaintances. Our California attorneys work hard to end financial cruelty and return wrongfully taken property.
At the Law Offices of Kenny Tan you will connect with a Diamond Bar lawyer who knows how to protect the rights of financially abused elders and dependent adults. Contact our office to schedule an initial consultation.
Methods of Financial Abuse
There are many ways in which the assets of seniors or vulnerable adults can be mismanaged or stolen by unscrupulous parties, including:
- Reverse mortgages — An equity loan made against the home of a person aged 62 or older. Reverse mortgages are legal, but should be carefully monitored. No monthly payments are required and the 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 elders and dependent adults can rely on the people around them for care. When threats of abandonment are made, money or property may be transferred to a caretaker or acquaintance out of fear.
Regaining Lost Property
Anyone who conspired to take advantage of a senior citizen 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 that was taken by predatory lending or other improper means.
Warning Signs Your Loved One May Be the Subject of Financial Abuse
While one warning sign does not mean an elder is being financially abused, some indicators of abuse may include:
- Abrupt changes in financial situations
- Removing or adding beneficiaries in an estate plan
- Strained relationships between the elder and caregiver
If you feel your senior or loved one has been financially abused, contact our firm to speak with a Los Angeles attorney. We can make sure you file the necessary claims in the correct time period.
