Jun 26, 2016
By Elder Law attorney Rick Law of the Estate Planning Center at Law Elder Law, Senior Advocates and Guardianship attorneys in West Chicagoland in Illinois.
As more people are made aware of the widespread financial exploitation against seniors, more states will address these serious crimes.
For instance, Illinois recently amended its criminal code by making the “financial exploitation of an elderly person or a person with a disability” a felony.
The section reads in part:
A person commits financial exploitation of an elderly person or a person with a disability when he or she stands in a position of trust or confidence with the elderly person or a person with a disability and he or she knowingly and by deception or intimidation obtains control over the property of an elderly person or a person with a disability or illegally uses the assets or resources of an elderly person or a person with a disability.
A person is in a position of trust when (s)he
(i) is a parent, spouse, adult child or other relative by blood or marriage of the elderly person or a person with a disability,
(ii) is a joint tenant or tenant in common with the elderly person or a person with a disability,
(iii) has a legal or fiduciary relationship with the elderly person or a person with a disability
(iv) is a financial planning or investment professional, or
(v) is a paid or unpaid caregiver for the elderly person or a person with a disability.
Subsection (v) above was added effective January 1, 2012. From looking at the Illinois Criminal Code and the definition of a person in trust, it gives hope that the task of protecting seniors, especially seniors suffering from dementia, from financial exploitation may get easier.
Too many families needlessly lose everything they have. Don’t let that be you. If you need help building a fortress around your estate to protect it from creditors, predators, and the cost of chronic disease, give our office a call at 800-310-3100. Your first consultation is absolutely free. We’ll let you know what steps you need to take, right now, to protect yourself and your family. Call now, because when you’re out of money, you’re out of options!
Rick L. Law, Attorney, Estate Planner for Retirees.
Rick has been named the #1 Illinois elder law estate planning attorney for the past 8 years in a row by Leading Lawyer Magazine. He has been quoted in the Wall Street Journal, AARP Magazine, TheStreet.com, and numerous newspapers and articles. Rick is the lead attorney for Law Elder Law, LLP, focusing in Estate Planning, Guardianship, and Nursing Home Solutions. His goal is to give retirees an informed edge when it comes to dealing with an uncertain future. Get flexible retirement strategies that work during good times and bad, plus information on how you can save your home and assets from being used to pay for long term care. Call 800-310-3100 for your free consultation now!
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Just don’t leave them a mess.
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