Financial Abuse Of The Elderly Strikes Again In Central Florida

Scams against the elderly are common enough that most seniors are on their guard against the most common types.  Even the loneliest people know not to fall for those brightly colored postcards that announce that you have just won a large sum of money.  Likewise, when a much younger person matches with you on a dating site and immediately starts professing her love and complaining about her financial problems, you know it is a red flag, no matter how charming and sincere your admirer seems to be.  We have also heard the horror stories where an elderly person entrusted her financial affairs to one of her children, and he used her money in his own self-interest and even prevented her from talking to her other children about it.  Family members and new dating partners are the abusers that get the most media coverage, but financial abuse of vulnerable seniors can come from anyone, even from people whose job is to act in the best interests of the elderly and infirm.  A Tampa estate planning lawyer can help you protect yourself and your family members from financial abuse.

City Commissioner Allegedly Defrauded Nonagenarian Into Signing Power of Attorney

Regina Hill, the Orlando City Commissioner, is facing accusation of financial abuse of an elderly resident; she allegedly deceived the victim into signing a power of attorney (POA) and then used $100,000 of the victim’s money on purchases for herself.  Hill first met the victim in 2021, when the victim’s neighbors contacted Hill to say that the victim’s house was in poor condition and in need of repairs.  Hill visited the victim at her home and offered to help her make the repairs.  She asked her to sign a document, which turned out to be a power of attorney giving Hill access to the victim’s bank account and the authority to make transactions from it; the victim did not know that the document was a POA, but she signed.

Instead of using the money to repair the victim’s house, Hill applied for a home mortgage in the victim’s name, listing herself as a co-signer.  She also spent the victim’s money on cosmetic surgery and travel.  By the time the victim discovered Hill’s deception, the victim was 96 years old and $100,000 poorer, and her house still had not received the repairs it needed.  Financial crimes such as fraud tend to carry heavier sentences if the victim is above the age of 60.

The best person to protect your older self against elder abuse is your younger self.  The best way to avoid a situation where a power of attorney becomes a gateway to financial abuse is to draft a springing power of attorney while you are still healthy, years before you need it.

Contact David Toback About Preventing Financial Abuse of the Elderly

A Central Florida estate planning lawyer can help you set your financial decisions in writing so that no one can lie about your wishes and your consent if you become ill.  Contact David Toback in Tampa, Florida to set up a consultation.

Source:

moneywise.com/news/commissioner-investigated-for-helping-herself-to-more-than-100000-of-96-year-old-womans-savings