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He was also in the early stages of dementia. Abandonment occurs when someone who is responsible for the elderly’s care, leaves them to take care of themselves. When his wife passed away, he employed a caregiver, Mary, whom he later married. The friend’s poor judgment and lack of business experience were overshadowed by a willingness to misappropriate estate assets. The friend was removed by the Superior Court, and we were appointed as successor Personal Representative. Nursing home patients may be in unique position to be victims of financial abuse, as they may be more vulnerable to deceptive practices taking place. When the financial exploitation horse is out of the barn, it is nearly impossible to get it back in again. All rights reserved.
To learn more about Lone Star Legal Aid, visit our website at Media Elder abuse is tragically frequent, and financial exploitation is a common gateway to other forms of abuse. The friend was removed by the Superior Court, and we were appointed as successor Personal Representative. In most cases, exploitation is the result of trusting the wrong person. Copyright © 2020, Thomson Reuters. To free Madeline from a coercive and abusive situation and protect her from her abusers was a very costly endeavor and further reduced her dwindling resources.“Morris” was a lonely elderly gentleman who had always had an eye for the ladies. Consequently, he changed his will and upon his death, the second wife became very wealthy. Examples of Financial Abuse and Exploitation: The idea of an adult child moving in to care for an elderly parent, or taking an elderly parent in, is in and of itself laudable, and it is more often than not a good thing for the parent.
By 2030, people aged 65 and older will constitute … The financial exploitation of seniors is a growing problem that affects millions. A slight majority of financial exploitation victims are elderly females over age 70 who reside alone. The end result is that, when we became trustee, the outflow of funds to the stepmother was moderated, real estate was conveyed back into the trust and peace prevailed.Many times we are called in to clean up messes like those in the above cases. . However, often the proverbial horse is already out of the barn; and, although we put forth our best efforts, we cannot make estates completely whole. Unfortunately, Marvin died intestate not long after his marriage, and his estate passed to his new wife, and not to his family.“Milton” was an aging eccentric who fancied himself an entrepreneur, real estate developer and exotic animal farmer. However, many times, the exploitation is financially and emotionally devastating to the exploited individual, as set forth in the following true stories.
Under the guise of friendship, they confided their money woes to him, and he happily gave them large sums of money for their children and their debts in exchange for their “friendship” and their company. Lone Star Legal Aid focuses its resources on maintaining, enhancing, and protecting income and economic stability; preserving housing; improving outcomes for children; establishing and sustaining family safety and stability, health and well‐being; and assisting populations with special vulnerabilities, like those who have disabilities, or who are elderly, homeless, or have limited English language skills. It is particularly sad when the decision to select a friend or family member as a personal representative or trustee was based on a desire to save money.