Fight Elder Financial Exploitation with Legal Action
Financial exploitation is one of the biggest threats seniors face today. Many older adults become targets of financial abuse by caregivers, family members, or scammers who take advantage of their trust. In some cases, this even happens in nursing homes, where residents may be pressured into signing over assets or having their money misused. If you suspect a loved one is being taken advantage of, a Nursing Home Financial Abuse Lawyer in NJ can help recover stolen funds and hold the responsible parties accountable.
New Jersey has strict laws to protect seniors from financial abuse, but taking legal action can be overwhelming without the right guidance. Families dealing with this issue often turn to nursing home financial abuse lawsuits in New Jersey to seek justice and recover lost assets. Whether the exploitation happened through fraud, forgery, or improper influence, there are legal steps you can take to fight back. Understanding your rights and knowing where to get help is the first step in protecting your loved ones.
Quick Summary:
- Elder abuse refers to intentional harm or neglect of older adults, often occurring in nursing homes or at home. Financial exploitation, a common form of abuse, can include unauthorized financial transactions, missing money, or sudden changes in a senior’s financial situation. Family members should watch for warning signs like unusual withdrawals or reluctance to discuss finances to help prevent further exploitation.
- In New Jersey, financial exploitation of seniors is treated as a crime. Taking more than $50,000 from a senior is a felony, with varying degrees of severity based on the amount taken. The law assumes exploitation when large sums are given to someone newly acquainted with the senior. Legal actions can include criminal charges, civil lawsuits, and the return of stolen property before trial.
- Family members, caregivers, and others in positions of trust often commit financial exploitation. Adult children, second spouses, and caregivers may misuse a senior’s finances, sometimes acting alone or with others. New Jersey law holds perpetrators accountable, and even good-faith actions that interfere with a senior’s control of their property can lead to legal consequences.
- Elder financial exploitation can cause serious harm, but legal options are available to help protect seniors and recover stolen funds. These include filing criminal complaints, pursuing civil lawsuits, and requesting protective orders. New Jersey’s Safeguarding Against Financial Exploitation Act also provides added protection through financial professionals. Consulting a lawyer can help families take the right steps and seek justice for their loved ones.
Understanding and Preventing Elder Financial Abuse
Elder abuse happens when someone intentionally harms or neglects an older adult, causing them distress or injury. It can take place in nursing homes, assisted living facilities, or even in the senior’s own home. Sadly, many cases go unreported because victims may feel afraid, ashamed, or unaware of what is happening. Recognizing the warning signs and knowing how to respond is important in keeping seniors safe.
How Can Family Members Recognize Signs of Elder Financial Exploitation?
In most cases, family members may not directly witness the financial exploitation of a senior, but they can notice warning signs that suggest something is wrong. These signs can include:
- Unexplained financial transactions or missing money
- Sudden changes in the senior’s financial situation, like new debts or bills
- Sudden or unusual changes in bank account activity or withdrawals
- Unexplained transfers of property or assets
- Lack of knowledge by the seniors about their finances or where their money is
- Reluctance to discuss finances with family members
- Sudden changes in the senior’s will, power of attorney, or other financial documents
- An increase in dependency on a specific person for financial decisions
Being aware of these signs and taking prompt action can help stop financial exploitation before it causes serious harm.
Who Commonly Commits Financial Exploitation of Elders?
Financial exploitation of seniors or disabled adults happens when someone takes or misuses their money, assets, or property. This can be done by a person in a position of trust, such as a caregiver, financial advisor, or family member. It can also happen when someone pressures or tricks a senior into handing over their money. If the senior cannot fully understand what is happening, taking their funds is still considered exploitation.
Another form of abuse happens when a person responsible for managing the senior’s finances—such as a guardian or someone with power of attorney—misuses their authority for personal gain. Unauthorized transfers, fraud, and mismanagement of funds all fall under financial exploitation. A person can also be guilty of financial abuse if they fail to use a senior’s income for their basic needs, like food, housing, and medical care.
Penalties for Financial Exploitation
If more than $50,000 is taken, it’s considered a first-degree felony with severe penalties. For amounts between $10,000 and $50,000, it’s a second-degree felony, and anything less is a third-degree felony. If an elderly person over 65 gives more than $10,000 to someone they’ve known for less than two years, the law may assume it was exploitation.
This law doesn’t apply to legitimate loans or donations to charities. In criminal cases, a jury will determine if exploitation occurred based on the evidence. If stolen property worth more than $5,000 is found, the court may order its return before the trial.
New Jersey law holds individuals accountable if they wrongfully take or control a senior’s assets. Under N.J. Stat. Ann. § 2C:20-20, those who knowingly obtain stolen property can face criminal and civil consequences. Additionally, the legal concept of conversion applies when someone improperly controls another person’s property. Conversion does not require intent to harm—unauthorized use, even if done in good faith, can still lead to legal liability. If someone interferes with a senior’s rightful control over their money or assets, they may be held responsible under civil or criminal law.
Legal Steps to Protect Seniors from Financial Exploitation in New Jersey
Dealing with elder financial exploitation can feel overwhelming, but legal steps are available to protect your loved ones. Here’s a look at legal options that can make a real difference.
Safeguarding Against Financial Exploitation Act (N.J.S.A. 49:3-84)
This law protects individuals aged 65 or older and those covered under the Adult Protective Services Act. Financial professionals must notify a trusted third party if they suspect exploitation and may temporarily delay suspicious financial transactions. They can also share records with law enforcement to help stop financial abuse.
Reporting Financial Exploitation to Authorities
Suspected financial exploitation can be reported to local law enforcement or Adult Protective Services. Authorities will investigate and, if there’s enough evidence, file criminal charges. Penalties may include fines, restitution, or jail time.
Civil Legal Action
Victims can file a lawsuit to recover stolen money or assets. Courts may award compensation for financial losses, emotional distress, and other damages. If the exploitation occurred in a care facility, the institution may also be held accountable.
Financial Protection Orders
Courts can issue protective orders to prevent abusers from accessing a senior’s accounts. This provides immediate protection while legal action is underway and helps stop further financial harm.
Taking legal action is a powerful way to protect seniors and seek justice. With proper legal guidance, families can hold abusers accountable and recover financial losses.
Call Our New Jersey Nursing Home Financial Abuse Lawyer Now!
Financial exploitation of seniors can cause serious harm. If you suspect your loved one is a victim, a Nursing Home Financial Abuse Lawyer NJ can help protect their rights and recover stolen assets. Kreizer Law offers compassionate legal support and will guide you through every step. We are dedicated to securing justice for families and ensuring that the abusers are held accountable.
In addition to elder financial exploitation cases, we also handle workers’ compensation, wrongful conviction, personal injury medical malpractice. We have a proven track record of success in fighting for the rights of vulnerable individuals. Contact us today for a free consultation and let our team fight for your loved one’s financial security and peace of mind.
