What To Look For Concerning Financial Elder Abuse

At Phil Brown Law in Beverly Hills, vulnerable elders along with their concerned friends and family find clear legal counsel and diligent representation. In practice since 1968, attorney Philip Brown has extensive experience in elder law cases. He is very familiar with the warning signs of financial elder abuse.

Signs That Financial Elder Abuse Is Occurring

Signs of financial elder abuse can include:

  1. Unusual investment activity, such as liquidating a portfolio
  2. Unusual expenditures
  3. Unpaid service bills or tax bills
  4. Unpaid bills when someone else has been designated to pay them
  5. Inability of the elder to get access to his or her financial records because they no longer come in the mail, the password was changed, etc.
  6. Unusual activity in bank accounts:
    • Withdrawal of large sums
    • Withdrawals from ATMs when the elder is homebound
    • Online transactions, if the elder doesn't have a computer
    • Bank statements and canceled checks no longer coming to the elder's home
    • Unfamiliar signatures on checks and other documents
  7. Signatures on documents that do not resemble the elder's signature
  8. Changes in investments that have not been touched in years, such as annuities
  9. Unusual loans against equity in property or life insurance policies
  10. New relationships expressing interest in the elder's financial situation
  11. Missing documents:
    • Will
    • Stocks
    • Mutual funds
    • CDs
  12. Missing property
  13. Change of beneficiary status on investment accounts or life insurance policies
  14. New will or changes to the existing will
  15. Creating powers of attorney for finances or property transfers
  16. Utilities or telephone disconnected
  17. Addition of names on bank accounts and other financial accounts
  18. Changes in a power of attorney from a longtime friend or family member to a person new to the scene
  19. Refusal or reluctance of family or legal representative to spend money on care
  20. Isolation of the elder individual by the caregiver

Helping Protect Your Finances

If you believe your loved one may be the victim of financial exploitation in California, learn how a lawyer can help. You can also schedule a one-on-one consultation with attorney Philip Brown by calling (310) 623-8383 or by contacting the firm online.

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