Elder financial abuse is both despicable and occurs far too frequently in our society. Half of all financial exploitation of seniors is committed by strangers, followed by family, friends, and neighbors (34%), the business sector (12%), and Medicare and Medicaid fraud (4%), and costs seniors over $3 billion annually.

Definition of Elder Financial Abuse Under California Law

California Welfare and Institutions Code section 15600 protects elders (anyone 65 year of age or older) and dependent adults from many types of physical abuse and neglect.  “Financial abuse” of an elder or dependent adult occurs when a person or entity does any of the following:

   (1) Takes, secretes, appropriates, obtains, or retains real or personal property of an elder or dependent adult for a wrongful use or with intent to defraud, or both. 

   (2) Assists in taking, secreting, appropriating, obtaining, or retaining real or personal property of an elder or dependent adult for a wrongful use or with intent to defraud, or both.

   (3) Takes, secretes, appropriates, obtains, or retains, or assists in taking, secreting, appropriating, obtaining, or retaining, real or personal property of an elder or dependent adult by undue influence.

Plus, it must be shown that the person or entity alleged to have committed financial elder abuse knew or should have known that the conduct at issue was likely to have been harmful to the elder or dependent adult.

The taking of the property of an elder is not restricted to physically removing property from the elder’s possession.  The law defines taking to include depriving an elder or dependent adult “of any property right, including by means of an agreement, donative transfer, or testamentary bequest, regardless of whether the property is held directly or by a representative of an elder or dependent adult.”

Real property refers to land or structure built on land such as a house. Real property is also referred to as real estate. Personal property is all property other than real estate, such as money, stocks, jewels, etc.

Contact An Elder Financial Abuse Attorney At The Dolan Law Firm

California law protects elders, dependent adults, and developmentally disabled persons from many types of abuse and neglect, including financial fraud. The law provides for the recovery of damages for pain and suffering, economic damages, and punitive damages when there has been recklessness, fraud and/or patient abandonment.

Take action and contact us without delay.  The Dolan Law Firm is one the leading injury and elder abuse law firms in California. We represent seniors and families who loved ones were victimized by financial elder abuse.  We represent clients from San Francisco, Oakland, Marin, the entire Bay Area and across California.  Please click here to contact us or call us toll free at 1-888-452-4752.