Our partner Holly LeValliant gave a talk on in terrorem clauses at the Six Minute Estate Lawyer event held by the Law Society on April 29th. In plain English, in terrorem clauses are stipulations in Wills that make bequests conditional upon the recipient not taking certain actions. They are most often used to prevent beneficiaries from challenging … Continued
Experienced Estate Lawyers Advising on Elder Financial Abuse in Ontario
Elder financial abuse includes any theft or exploitation of an elderly person’s assets, including their property, bank accounts, or other financial holdings. Elder financial abuse could come in the form of fraud by criminals targeting unsuspecting senior citizens, but could also include situations where a relative or caregiver takes advantage of an older person’s physical or mental frailty to obtain control and possession of their assets.
Sometimes, elder financial abuse may be subtle, such as in the case of someone charging personal expenses to their grandmother’s credit card. In other cases, such abuse is significant, such as taking out a mortgage on an elderly relative’s home. In all cases, however, these acts cause serious and long-term harm to the person being abused.
Often, abusive behavior unfortunately goes unnoticed until the financial situation is dire. Once elder financial abuse is detected, acting as quickly as possible may prevent the abuse from escalating further. At Eisen Law our team of knowledgeable and compassionate lawyers are dedicated to assisting older Canadians in managing their affairs, and to assisting family members concerned about the well-being of their older relatives.
Identifying elder financial abuse
Financial abuse may be difficult to identify, and warning signs often do not arise until it is too late, when savings are depleted, or a will altered. Possible signs of elder financial abuse include:
- Previously uninvolved friends, relatives, or lovers moving into the home of an older person, or other sudden changes in their living arrangements;
- An unexplained lack of funds, large account withdrawals, or other strange banking or spending patterns;
- Multiple or drastic changes to wills, powers of attorney, or other legal documents in a short period of time;
- An apparent lack of basic necessities, or poor living conditions relative to the older person’s assets
- Missing possessions, especially valuables like jewelry or art;
- Any signs that a senior’s spending or financial affairs are being controlled by someone other than themselves or their lawful power of attorney.
Trusted lawyers assisting in situations of suspected elder financial abuse or fraud
If you notice any signs that a loved one is being taken advantage of, or if you suspect they may be being exploited by someone, contact the estates team at Eisen Law as soon as possible to discuss your concerns.
Our lawyers regularly step in to take urgent action on behalf of the victims of elder financial abuse, and to help their loved ones take the necessary precautions to ensure their interests and assets are protected. We focus on helping elderly clients to manage their affairs, and to protect their assets. In addition to cases of financial abuse, we can also advise regarding:
- Elder neglect and physical abuse;
- Consent and capacity concerns;
- Power of attorney disputes;
- Substitute decision maker disputes;
- Removal and replacement of guardians for property or personal care.
Contact Eisen Law if You Are Concerned About an Older Family Member or Loved One
If you are worried that a loved one may be a victim of elder financial abuse, contact Eisen Law. We offer free consultations for new clients and confidential assistance. Call us at 416-591-9997 or contact us online to make an appointment.
Estates & Trusts
Advocating for Both Estate Trustees and Beneficiaries in Estates
Providing the Management of Care for Those Who Can’t Care for Themselves
Powers of Attorney
Ensuring Proper Care and Governance for Your Loved Ones
Navigating you through all your options, legal rights and obligations
Probate & Estate Administration
Assisting with carrying out duties for executors
Mediation Can Dramatically Reduce Time, Cost, and Stress
Eisen Law provides the experience, expertise and compassion needed to navigate through a difficult journey.
Questions? Send us an email
Latest news and posts from the Eisen Law blog
The family home can often be one of the most valuable items, both emotionally and financially, in an estate. Determining what will happen to a family home can be an incredibly important aspect of proper estate planning. Of course, in all areas of the law, there are always considerations that can complicate what one thinks … Continued
Beware of the Font Fraudster! He/she is lurking around every corner, or, more fittingly, around ever matter. In McGoey (RE), a commercial litigation matter, a bankrupt telecom executive attempted to shield two properties from creditors by asserting that they were held in trust for his children. There were even trust documents purporting same! The documents … Continued