It Takes Love

What is Fiduciary Abuse?

This is a situation by which an individual who is legally responsible for managing another person’s assets uses his or her power to benefit financially in an unethical or illegal manner. Fiduciary abuse can be done by anyone such as a financial advisor, power of attorney, or family member.

A Growing Problem

Many times the elderly have a difficult time managing their money, and so they are dependent on others for help. This is when that unscrupulous individuals step in and make attempts to obtain monies from property, land, goods and bank accounts.

Who could provide financial abuse of your loved ones?

To determine if your loved one is being abused financially, we must first clarify who could potentially lead to abuse.

Personal Caretaker

A surprisingly large number of cases of financial abuse occur between an older person and their caretaker. This can include guardian…

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About Lark

I was born at a very young age.

Posted on February 28, 2012, in Uncategorized and tagged . Bookmark the permalink. 2 Comments.

  1. Do we need to send this to all of the Economic Crime Units and F.A.S.T teams in our country? Most of us can’t afford the legal expenses to recover funds stolen through civil litigation. Exactly how can an elderly person pay outrageous attorney fees when their money has been stolen? We need to assign a higher value to this crime. It is domestic abuse and bullying if a family member commits this crime against their parent. I’m sick of hearing this is “just” a family dispute. There are statues in most states that specify this crime is criminally punishable, but no one enforces these laws. We are giving these predators permission to embezzle the life savings of an elderly person!

    Like

  2. mymotherscaregiver

    It is sad that we even need to have these kind of conversations isn’t it? Thanks for sharing

    Like

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