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
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.
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Latest news and posts from the Eisen Law blog
Our managing partner, Shael Eisen, spoke last Friday at the Northwind Professional Institute’s High Net Worth Forum held at Cambridge’s beautiful Langdon Hall. Participating as part of a panel of expert estate litigators, Shael shared some of his wisdom about issues facing lawyers and their clients in the field and entertained the crowd with some … Continued
Holly LeValliant spoke at Osgoode Hall’s Powers of Attorney and Guardianship Program last week, an seminar in which estate law experts gave presentations as a continuing education opportunity for lawyers working in the field. Holly’s presentation focused on uncontested guardianships. In lay terms, this refers to the process by which an individual may apply to … Continued