FINANCIAL EXPLOITATION OF THE ELDERLY

THROUGH UNDUE INFLUENCE: 

HOW TO SPOT IT AND WHAT TO DO ABOUT IT

    Elder abuse is becoming a serious problem in our society. As our modern health care system allows more and more people to live well into their 80's and 90's, this same prolonged longevity can lead older persons to become dependent on others to manage both their physical needs as well as their banking, investments, and other financial affairs.  With this dependency comes the risk that care-givers will exploit the older person's trust for their own advantage.

    Unlike mental incapacity caused by dementia or Alzheimer's disease, which is more readily observable, undue influence as a form of elder abuse can easily be hidden behind the mask of a "caring" relative or friend who has been entrusted with the property and/or physical care of a dependent older person who may still be competent but is too afraid or ashamed to complain of the abuse taking place.

    This article in the sub-topics listed below will address the financial exploitation of the elderly, as opposed to physical abuse or neglect.  More specifically, it will focus on undue influence as exerted by persons who are known to the older person, such as a child, spouse, neighbor, investment advisor, or an aide in a nursing facility, as opposed to con-artists, door-to-door salesmen, and other strangers who prey on the elderly.

    The first sub-topic listed below profiles the type of older person who is likely to become the victim of financial exploitation through undue influence.  The common characteristics of perpetrators of such abuse will be analyzed in the second sub-topic.  The next sub-topic describes the stages in the development of undue influence, along with the common signs indicating the existence of undue influence.  The final sub-topic discusses the remedies that are available to elderly persons or their representatives or heirs to seek redress for financial exploitation caused by undue influence.

PROFILE OF THE VICTIM OF FINANCIAL EXPLOITATION THROUGH UNDUE INFLUENCE

DISCLAIMER

Martin J. Hagan is licensed to practice law in the Commonwealth of Pennsylvania. This website is intended solely for informational use and is not intended to solicit clients. Likewise, any information contained in or obtained from this web site is for informational purposes only and is not intended to be used as legal advice.

IRS CIRCULAR 230 DISCLAIMER:   Pursuant to Treasury guidelines, any tax advice contained in this website (or any link from it) does not constitute a formal opinion. Accordingly, any tax advice contained in this website (or any link from it) is not intended or written to be used, and cannot be used by any taxpayer, for the purpose of avoiding penalties that may be asserted by the Internal Revenue Service. You should seek advice based on your particular circumstances from an independent tax advisor.

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Copyright © 2007 Martin J. Hagan, One Gateway Center - 8 South; Pittsburgh, PA 15222-1435

Last Updated: 06/29/07