financial elder abuse

A California woman and her daughter were recently charged with financial elder abuse for coercing the woman’s long time boyfriend into signing away the deed to his residence when he clearly lacked the capacity to do so. The two women are also alleged to have forged medical documents in order to facilitate the transfer of the property. Unfortunately, circumstances like this are not rare. In fact, a majority of financial elder abuse is committed by individuals known to the victim, such as family members. If you have been victimized by a loved one or suspect that someone you know is being victimized by financial elder abuse, contact the elder law attorneys at Brod Law Firm today to learn how we can help.

What is Financial Elder Abuse?

Financial elder abuse is a type of elder abuse that involves the misappropriation of funds. Sadly, the majority of financial elder abusers are family, friends, and acquaintances of the victim. While elderly individuals with alzheimer’s and dementia are at a particularly high risk, any unsuspecting elderly individual can fall prey to financial elder abuse.

The First District Court of Appeal in California found the state’s Elder Abuse and Dependent Adult Civil Protection Act should be interpreted broadly. In Mahan v. Charles E. Chan Insurance Agency, Inc., the court determined that the Act covers claims arising from bad faith insurance sales practices. Despite the elderly plaintiffs not paying for the insurance policy directly, the court determined that they suffered a unique injury. This decision is likely to be important down the road as more financial elder abuse claims come to light, and individuals and their loved ones strive to protect their interests and punish those who attempt to take advantage. If you believe this decision may affect your civil claim regarding financial elder abuse, contact an experienced San Francisco elder neglect and abuse attorney from Brod Law Firm today.

Mahan v. Charles E. Chan Insurance Agency, Inc.

In the 1990s, Fred and Martha purchased life insurance policies that were held in a revocable living trust for the benefit of their kids. The trust was self-sustaining so that it could continue to pay the insurance policies’ premiums without the couple paying more money into the trust themselves. In 2013, when Fred was suffering from cognitive decline and confusion, and Martha had been diagnosed with Alzheimer’s disease, the defendants altered the couple’s policies through unfair practices.

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