Madison Elder Financial Abuse Lawyers

Madison Elder Abuse & Financial Exploitation Attorneys Serving all of Wisconsin

The Madison elder financial abuse lawyers at Boller & Vaughan are passionate about helping victims of elder financial abuse throughout Wisconsin. We have the knowledge, skills, and proven history of success you can trust to pursue the justice you deserve in these complex cases.

If you believe that your elderly loved one suffered financial losses due to someone’s wrongdoing, contact Boller & Vaughan today online or at (608) 268-0268 for your FREE, no-obligation case evaluation. Our elder financial abuse attorneys handle these cases on a contingent fee basis, which means you won’t pay anything unless we reach a successful resolution to your case.

Call for a FREE Consultation (608) 268-0268

What Is Elder Financial Abuse?

Elder financial abuse is a form of elder abuse that involves the illegal or improper use of an elderly person’s financial resources for personal gain by someone in a position of trust or authority. This type of abuse can take various forms and can have serious consequences for the elderly individual.

Elder financial abuse results in an estimated $3 billion in losses each year, but the actual amount may be much higher because some seniors don’t know they’re being victimized and others are unable or unwilling to report potential misconduct.

Key characteristics of elder financial abuse include:

• Deceptive practices: Perpetrators often use deceit, manipulation, or coercion to gain access to the elder’s financial assets or convince them to make financial decisions that are not in their best interest.
• Misappropriation of funds: This can involve stealing money or property directly from the elderly person, forging their signatures on checks or legal documents, or using their financial resources without their consent.
• Fraud: Scams and fraudulent schemes specifically targeting older adults are common forms of elder financial abuse. These may include lottery scams, phishing emails, telemarketing fraud, and more.
• Exploitation: Individuals in positions of trust, such as family members, caregivers, or financial advisors, may exploit their relationship with the senior to gain access to their finances and assets.
• Coercion and threats: Seniors may be coerced or threatened into changing their wills, granting power of attorney, or making other financial decisions against their will.
• Isolation: Perpetrators may isolate the elderly person from their friends and family members to maintain control over their finances and prevent others from detecting the abuse.

Elder financial abuse is a serious problem that can have devastating consequences for older adults. It can lead to financial ruin, loss of independence, and emotional distress. It is often underreported because victims may be ashamed or afraid to come forward. Recognizing the signs of elder financial abuse and taking steps to prevent it are crucial to protecting vulnerable elderly individuals. Laws and regulations are in place to help prevent and prosecute elder financial abuse, but prevention and awareness remain critical. If you suspect someone is a victim of elder financial abuse, it’s important to report it to the appropriate authorities or organizations that can provide assistance.

Every Wisconsin county—including Dane County—has an elder abuse agency that investigates reported neglect, abuse or financial exploitation of seniors, including those who reside in nursing homes or other assisted-living facilities. If you believe you’re a victim of financial abuse, or if you suspect a loved one is being financially exploited, it’s a good idea to talk to your local Adult Protective Services office as soon as possible. It’s also advisable to discuss your situation with a knowledgeable attorney.

The Madison nursing home abuse attorneys at Boller & Vaughan have an extensive record of success in elder abuse cases, including those related to financial exploitation.

How Can an Elder Financial Abuse Lawyer Help?

The elder financial abuse lawyers at Boller & Vaughan handle legal matters related to cases of financial exploitation or abuse of elderly individuals. We are well-versed in the specific laws and regulations designed to protect the rights and assets of older adults. Here are several ways our elder financial abuse lawyers can help:

• Identifying financial abuse: We can help determine if financial abuse has occurred by examining financial records, conducting interviews, and assessing the circumstances surrounding the alleged abuse.
• Reporting and investigating: Our attorneys can assist in reporting suspected abuse to the appropriate authorities, such as adult protective services or law enforcement agencies. We can also work with investigators to gather evidence and build a case against the perpetrators.
• Legal representation: Our elder financial abuse lawyers can provide legal representation for the elderly victim in civil and criminal court proceedings. This includes filing lawsuits against the abuser to recover stolen assets and seeking compensation for financial losses.
• Pursuing criminal charges: In cases where criminal behavior is involved, we can work with prosecutors to ensure that the perpetrators are charged and prosecuted for their actions.
• Contesting fraudulent transactions: If an elderly person was coerced or tricked into making financial transactions, such as changing a will or signing over property, we can help contest these transactions in court.
• Recovery of stolen assets: Our elder financial abuse lawyers can help victims recover their stolen assets, including money, property, and valuables, through civil litigation or negotiation with the abuser.
• Protective measures: We can help implement protective measures, such as restraining orders or guardianships, to safeguard the elderly individual from further financial abuse.
• Financial planning: We may work with financial experts to develop strategies for protecting an elderly person’s assets and ensuring their financial well-being in the future.
• Education and prevention: Our lawyers can educate their clients about the signs of financial abuse and provide guidance on how to prevent future abuse.
• Advocacy: Elder financial abuse attorneys may also advocate for changes in laws and regulations related to elder abuse to provide better protection for older adults in the community.

Overall, an elder financial abuse lawyer plays a crucial role in helping elderly individuals who have fallen victim to financial exploitation by advocating for their rights, recovering stolen assets, and seeking justice against those responsible for the abuse. If you suspect elder financial abuse, it’s important to consult with an experienced attorney at Boller & Vaughan who can provide guidance and take appropriate legal action on behalf of your loved one.

Types of Senior Financial Abuse

Seniors are often targeted for financial exploitation due to perceived vulnerabilities. Many seniors, for example, suffer from mental health issues such as dementia; others may lack financial literacy, and others may struggle to navigate modern technology or misleading marketing.

There are numerous examples of financial abuse, but they tend to fall into one of two categories:

• Theft: When a person unlawfully takes possession of another’s property or assets
• Fraud: When a person uses false statements or other forms of deception to take possession of another’s property or assets

Common elder abuse scams include but are not limited to:

• Telemarketing and internet fraud: These phone- and email-based scams often use aggressive tactics and exaggerated promises of cash, goods or benefits in exchange for a fee
• Identity theft: This occurs when a scammer gains unlawful access to a senior’s personal information (such as a Social Security number, credit card number or bank account number) and uses it for personal benefit
• Grandparent scam: The perpetrator pretends to be a grandchild in trouble and asks the victim to send money
• Lottery/sweepstakes scam: Victims are led to believe they’ve won a cash award but need to pay taxes or other fees in order to collect
• Charity scam: This false soliciting on behalf of charities or nonprofits is especially common after natural disasters
• Investment schemes: Dishonest investors may try to sell purposely confusing investment products or promise unrealistic returns on an investment
• Abuse of guardianship or power of attorney: An authorized family member or caregiver uses his or her position to access the victim’s finances for personal benefit

In some cases, the perpetrator may use threats or force to keep the victim silent, adding another layer of abuse to this tragic situation.

Warning Signs of Elder Financial Abuse

According to the National Adult Protective Services Association (NAPSA), only 1 in 44 financial abuse cases is reported. Not all seniors are aware of misconduct, and others are helpless to do anything about it.

It’s important that family members, caregivers and friends know how to detect signs of elder financial abuse and what to do in the event of suspected abuse. Red flags include:

• Unexplained financial withdrawals or transfers
• New individual(s) added to financial accounts
• Changes to wills, trusts or other legal documents
• Sudden disinterest in financial matters
• Missing personal property
• Untreated physical or mental problems that may affect behavior and decision-making
• Social withdrawal
• Mentions of new or previously unknown friends

If you suspect the financial exploitation of an elderly loved one in Wisconsin, your first step should be to contact the state’s Adult Protective Services agency. It’s also a good idea to discuss your situation with an attorney who has experience in elder abuse cases. A knowledgeable lawyer may be able to help protect your loved one—and other at-risk seniors—from further exploitation and pursue financial compensation for damages.

Elder Financial Abuse: Perpetrators & Risks

Some have called senior financial abuse “the crime of the 21st century.” An estimated 37 percent of seniors has experienced, or will experience, some form of financial abuse.

And the problem is expected to grow with the senior population over the next three decades. According to a census report, “In 2050, the population aged 65 and over is projected to be 83.7 million, almost double its estimated population of 43.1 million in 2012.”

This is significant because most financial abuse victims are between the ages of 80 and 89, and most require some level of help with either health care (particularly those dealing with cognitive disabilities like Alzheimer’s disease) or home maintenance because of physical limitation. By 2050, all surviving baby boomers will be at least 85 years old.

Perpetrators of financial exploitation are rarely strangers to the victims. The Washington Post reports that 75 percent of elder financial abuse is initiated by a family member or a known acquaintance; as much as 90 percent of elder abuse or neglect cases involve close friends or family.

Common ways family members or caregivers exploit vulnerable adults include:

• Abusing Power of Attorney privileges
• Taking advantage of joint checking accounts
• Withdrawing cash or stealing checks to withdraw a senior’s money
• Refusing medical treatment to protect future financial exploitation
• Threatening violence or abandonment unless the senior complies
• Overcharging for caretaker services
• Keeping change or money after running errands for a senior

How Much Is My Elder Financial Case Worth?

The value of an elder financial abuse case can vary widely depending on several factors, and it is challenging to provide a precise estimate without knowing the specific details of your case. 

The potential worth of your case may depend on the following factors:

• Extent of financial loss: The amount of money or assets that the elderly individual has lost or had misappropriated due to the financial abuse is a significant factor. The greater the financial loss, the higher the potential value of the case.
• Evidence of wrongdoing: The strength of your evidence and documentation plays a critical role in determining the case’s value. Solid evidence, such as financial records, witness testimonies, and documentation of suspicious transactions, can bolster your case’s value.
• Perpetrator’s resources: The financial capacity of the person or entity responsible for the abuse is another factor. If they have the means to compensate the victim, it may increase the potential recovery.
• Emotional distress: In some cases, the emotional impact suffered by the elderly victim may also factor into the compensation sought in a lawsuit.
• Punitive damages: In cases of extreme negligence or intentional misconduct, punitive damages may be awarded to punish the wrongdoer and deter similar behavior in the future.

To determine the potential worth of your elder financial abuse case, it’s essential to consult with an experienced elder financial abuse attorney at Boller & Vaughan. We will evaluate the details of your situation and provide an estimate of the potential compensation you may be entitled to pursue through legal action.

When Should You Hire an Elder Financial Abuse Lawyer?

You should consider hiring an elder financial abuse lawyer if you suspect that an elderly individual is being financially exploited or abused. This can include situations where you believe the elderly person is being taken advantage of financially, has fallen victim to fraud or scams, or if there are changes in their estate planning documents that raise concerns about duress or undue influence.

An attorney can also assist in recovering stolen assets, obtaining protective measures, reporting abuse to authorities, and pursuing civil litigation against responsible parties. Acting promptly is crucial to protect the elderly person and their financial well-being.

It costs you nothing to contact the elder financial abuse lawyers at Boller & Vaughan today. During your free initial consultation, we will listen to the details of your loved one’s situation, assess the merits of your case, and explain your legal rights and options.

Why Choose Boller & Vaughan for Your Elder Financial Abuse Case?

Boller & Vaughan is the ideal choice for handling elder financial abuse cases in Wisconsin. Founded in 2004 by attorneys Matthew Boller and Michelle Vaughan, our firm is dedicated to protecting seniors in Wisconsin from elder abuse and neglect. Our continued focus on these cases reflects our deep empathy and understanding of the unique challenges faced by elder abuse victims and their families. We are committed to helping our clients move forward with dignity.

Our firm has a proven track record of securing millions of dollars in verdicts and settlements for seniors, including some of the largest recoveries in Wisconsin’s history.

Elder abuse cases are often extremely complex and require the knowledge, skill, and resources of a firm with substantial experience in these matters. We conduct thorough investigations to gather critical evidence, ensuring that no detail is overlooked.

Ultimately, when you choose Boller & Vaughan, you are choosing a compassionate, dedicated, and successful team that will advocate for your rights and work tirelessly to secure the justice and compensation you deserve. If you or your loved one has experienced elder financial abuse in Wisconsin, trust us to fight diligently at your side.

Contact a Madison Elder Financial Abuse Lawyer for FREE

The Madison attorneys at Boller & Vaughan have considerable experience with nursing home abuse cases and other forms of elder neglect and exploitation. Our accomplished lawyers are dedicated to protecting the rights of victims throughout Wisconsin.

If you believe a family member is a victim of elder financial abuse, call us today at 608-268-0268 or contact us online to arrange your FREE consultation.