Legal Guidance from Elder Law Attorneys in Wallingford, CT.
As people age, they may increasingly rely on others for help with daily activities, finances, and healthcare. Unfortunately, this dependency can make seniors more vulnerable to financial exploitation—often at the hands of someone they know and trust. According to AARP, older adults lose an estimated $28.3 billion each year due to financial abuse.
At Farrell & Grochowski, our experienced elder law attorneys in Wallingford, CT are here to help families safeguard their aging loved ones from financial harm. Below are key strategies to prevent elder financial abuse and steps you can take if abuse is suspected.
What Does Elder Financial Abuse Look Like?
Financial exploitation can take many forms. Common examples include:
- Pressuring or tricking a senior into signing legal or financial documents
- Unauthorized access or use of bank accounts or credit cards
- Isolation tactics that prevent the elder from viewing their own financial records
- Charging for unneeded services or caregiving without proper documentation
These actions can go unnoticed until significant financial damage has occurred. Early detection and legal intervention are crucial.
Planning Ahead: The Best Defense Against Financial Abuse
Preventing financial abuse starts with a well-structured estate plan. Working with a Wallingford elder law attorney can help you or your loved one:
- Create durable powers of attorney and living trusts
- Name trustworthy fiduciaries or consider professional fiduciaries
- Add oversight protections such as trust protectors, regular accounting, or co-agents
Private attorney meetings are essential to ensure there’s no undue influence from others. It’s also important to choose someone reliable and impartial. Family members in financial distress may not always be the best option to handle an elder’s finances.
What to Do If Financial Abuse Has Occurred
If you suspect that a senior is being financially exploited, take the following steps immediately:
1. Report the Abuse
Contact Elderly Protective Services or your local law enforcement agency. Prompt reporting can help prevent further loss and initiate an investigation.
2. Build a Circle of Support
Make sure the senior has access to a network of trusted individuals, including family, friends, financial advisors, social workers, and an elder law attorney.
3. Get Legal Help
At Farrell & Grochowski, we help families:
- Remove abusers from access to accounts or financial decisions
- Petition the court to appoint a conservator of the estate
- Recover stolen funds through civil litigation or mediation
- Obtain protective orders to stop further abuse or contact
Our legal team will assess the situation, advise on the best course of action, and take steps to preserve and protect the elder’s financial well-being.
Legal Tools to Recover Stolen Assets
Depending on the situation, we may use a combination of strategies to recover financial losses, including:
- Working with banks and financial institutions to track and freeze assets
- Filing lawsuits or complaints to hold the abuser accountable
- Negotiating settlements or mediation when appropriate
- Assisting with criminal or civil proceedings
In cases where the senior continues to be at risk, we can help secure court-ordered injunctions or protective orders to ensure their safety.
Get Trusted Legal Guidance in Wallingford, CT
At Farrell & Grochowski, we are committed to helping Connecticut families protect their aging loved ones from financial exploitation. Whether you’re planning proactively or responding to suspected abuse, our Wallingford elder law attorneys offer the experience and compassion needed to guide you through every step.
Need help protecting a loved one from elder financial abuse?
Contact Farrell & Grochowski today at (203) 269-7756 or https://farrellandgrochowski.com/contact to schedule a confidential consultation.
In cases where the abuser continues to have access to the older individual or their assets, an elder law attorney can help obtain protective orders or injunctions to prevent further harm. These legal measures can prohibit the abuser from contacting or approaching the older person and safeguard their financial resources.
We Can Help
Our elder law attorneys can not only help you create a plan designed to help prevent financial exploitation, but they can also provide legal expertise and support to address financial abuse that has already occurred. Their knowledge and desire to protect the rights of older adults significantly increase the chances of positive resolution and restitution. If you want to plan proactively to protect yourself or if you suspect that you or a senior adult you love is experiencing financial abuse, contact our elder law attorneys for help.
