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Financial Exploitation of Vulnerable Adults

Litigation Attorneys Securing Compensation and Redress for Vulnerable Adults Because the elderly population is ever-growing, as Baby Boomers age, vulnerable adult exploitation has skyrocketed in recent years. Older adults may be vulnerable because of age or infirmity, but they also may have physical, cognitive, and/or mental impairments that require them to rely on others for assistance. Their vulnerability makes them easy targets for financial exploitation.

Arizona law prohibits financial exploitation of vulnerable adults, but unfortunately, it still occurs with alarming regularity, mainly because it is difficult to detect if the elderly individual is isolated, fearful of making a report, or it goes unnoticed by loved ones. Thankfully, if exploitation of a vulnerable adult is detected there are remedies available.

What Does Elder Financial Abuse Include?

Examples of financial exploitation of a vulnerable adult include:

  • Coercion to change a will or estate plan: The abuser may coerce the victim into changing their estate planning documents, such as convincing or forcing the elder to change power of attorney or will with the goal of skewing the estate in their favor.
  • Changing the title to a bank account or property: Someone known to the victim may persuade the victim to place their assets in the hands of their abuser. They may take control of or the abuser jointly titles their name on the vulnerable adult’s bank account, car, or house title.
  • Exploitation of the elder’s valuables: An exploiter may attempt to convince a vulnerable adult to remove jewelry or valuables from the elder’s home and pawn them for the benefit of the exploiter.
  • Coercion to buy or give inappropriately: It’s shockingly easy for a scammer to simply pick up the phone and pretend to be an elderly individual’s grandchild who needs a wire transfer after a car accident; the elderly person may comply simply because they are cognitively impaired and cannot tell they are being duped.

Financial exploitation can leave a vulnerable adult with depleted resources and inhibit their quality of life. Once you’ve uncovered such exploitation, it’s important to contact an experienced financial exploitation attorney to assist in recovering the assets for the vulnerable adult and seek all available remedies against the exploiter.

What Should I Do if I Suspect My Loved One Is Being Financially Exploited?

Contact an attorney with the knowledge to advocate for your loved utilizing all available legal options and remedies, with the empathy to connect to your loved one’s situation. Often, the suspected exploitation of a loved one is very private and families do not like discussing their finances, however, at Thies & Lihn, PLLC, we take pride in ensuring your privacy.

Call us at (602) 900-9860 to arrange your free consultation with a compassionate lawyer or contact us online today.

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