Elder Law Attorney Torrance CA
We Want to Protect Your Elderly Loved Ones!
As adults age, they become less self-aware, making them more susceptible to financial exploitation. Unfortunately, even your best efforts to protect your loved one may be met with distrust and suspicion. The Law Offices of James C. Shields knows how disheartening it can be to watch your elderly family members succumb to financial abuse, but we believe our Torrance elder abuse lawyers can help. We combine decades of experience with rich legal backgrounds for maximum success.
Examples of Elder Financial Abuse
There are many types of elder abuse -- neglect, emotional abuse, and more. The most common type is financial exploitation which can involve trusted persons or complete strangers.
Some common examples of financial elder abuse include:
- Forging the elderly person’s signature on documents.
- Forcing the elderly person to sign documents so that the perpetrator will benefit after the passing of the individual.
- Deceiving them to gain access to their finances.
- Stealing property or money from the elderly, or using property without their permission.
- Charging credit cards without authorization or permission from the elderly cardholder.
- Forcing the elderly person to give money or property in exchange for care.
- Investment Scams -- for example, financial advisors may convince elders to invest in annuity scams where the money does not mature for 10+ years after the person has most likely passed away.
- Misuse of the power of attorney and withdrawing money or making changes to the elderly’s property.
- Tricking an elderly person into signing over power of attorney while they are not in a good mental state.
- Taking advantage of an elderly person’s memory loss and convincing them to gift money.
- Telemarketing scams, where deception or scare tactics are used to convince the elderly person to send money.
If you have been a victim of financial elder abuse or you suspect that this is happening to a loved one, reach out to the Law Offices of James C. Shields. Our elder law attorney in Torrance is prepared to help every step of the way.
How Can I Prevent Financial Exploitation?
Waning mental capacities naturally cause adults to become more vulnerable and defenseless. Supposed 'friends' of the elderly individual have grand intentions of providing financial support, only to misuse their bank account and hard-earned money. When family members try to intervene, the elderly person may deny help or be unaware that a problem even exists.
In these circumstances, an emergency conservatorship is a valuable solution. A conservator is a trusted individual who oversees the incapacitated person's finances and ensures that they are not abused.
Benefits of a conservatorship include:
- Built-in court supervision
- Regular reports detailing financial action are submitted to the court
- Conservators are required to request permission for all major decisions
- Minimized potential for exploitation
Conservatorships prevent unauthorized individuals from gaining access to the elder's finances and therefore greatly diminish the threat of abuse. When the court believes that the victim's finances are in immediate danger, they may grant an emergency conservatorship for up to 30 days. This then allows enough time to establish a permanent conservatorship.
Our Torrance Elder Abuse Lawyers Will Fight for Your Rights
Family members often choose to wait until they notice a serious problem, at which point it may be too late. Finances can dry up quickly and the last thing you want is for your loved one to face a hopeless future. Our South Bay estate planning firm is prepared to act quickly on your loved one's behalf.
We serve clients throughout Southern California and have nearly two decades of experience. Call the Law Offices of James C. Shields at (310) 626-4404 today!
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