Financial elder abuse is one of the fastest-growing forms of fraud in the United States — and one of the most underreported. It happens when someone takes, hides, or misuses an elderly person’s money, property, or assets. The perpetrators are often the people closest to the victim: family members, caregivers, financial advisors, or trusted friends.
California has some of the strongest elder abuse protections in the country. If you suspect a loved one is being exploited, acting quickly can make the difference between recovering assets and losing them permanently.
What Constitutes Financial Elder Abuse?
Under California Welfare & Institutions Code §15610.30, financial elder abuse occurs when a person or entity takes, secretes, appropriates, obtains, or retains the real or personal property of an elder (age 65+) for a wrongful use or with intent to defraud. This includes:
- Stealing money or property from an elderly person
- Forging or manipulating signatures on documents
- Misusing power of attorney or fiduciary authority
- Pressuring or coercing changes to a will, trust, or deed
- Identity theft and unauthorized use of financial accounts
- Isolating the elder from family to gain control over finances
- Caregiver theft — taking compensation beyond agreed terms
Warning Signs
- Unexplained withdrawals or transfers from bank accounts
- Sudden changes to a will, trust, or property deed
- New “friends” or caregivers who control access to the elder
- Unpaid bills despite adequate income or assets
- Missing valuables, jewelry, or personal items
- Sudden isolation from family members
- Elder appears fearful or anxious around certain individuals
Legal Remedies in California
California’s Elder Abuse and Dependent Adult Civil Protection Act provides powerful remedies beyond what’s available in standard civil cases:
- Recovery of stolen assets plus interest
- Attorney fees and costs — the abuser may be ordered to pay your legal fees
- Enhanced damages — courts can award damages beyond the value of what was taken
- Injunctive relief — court orders preventing further abuse or asset dissipation
- Void transactions — contracts, deeds, or documents obtained through abuse can be reversed
Time Is Critical
Assets that are stolen or misappropriated can be spent, transferred, or hidden. Acting quickly — securing accounts, filing petitions, and obtaining court orders — dramatically improves the chances of full recovery. If you suspect elder abuse, don’t wait to see if it gets worse.