What Is Elder Financial Exploitation?
Elder financial exploitation is a crime under Florida law that occurs when someone knowingly uses an elderly person's money, property, or assets for their own benefit or to deprive the elder of those resources. Florida defines an elderly person as someone aged 65 or older under Section 825.103, Florida Statutes.
Common Forms of Elder Financial Exploitation
- Power of attorney abuse: An agent uses their authority to steal from or financially harm the elder
- Undue influence: Manipulating an elder into changing their will, trust, or beneficiary designations
- Theft: Taking cash, jewelry, or personal property from an elderly person
- Real estate fraud: Transferring the elder's property without proper consent or consideration
- Identity theft: Using the elder's personal information to open accounts or incur debt
- Caregiver exploitation: A paid or unpaid caregiver diverts the elder's funds for personal use
Criminal Penalties
Florida law imposes severe penalties based on the amount exploited:
- Under $1,000: Third-degree felony, up to 5 years in prison
- $1,000 to $50,000: Second-degree felony, up to 15 years in prison
- $50,000 or more: First-degree felony, up to 30 years in prison
Civil Remedies
In addition to criminal prosecution, Florida law provides civil remedies for victims of elder financial exploitation, including equitable liens, treble damages, attorney fee recovery, and injunctions to prevent further exploitation.
Related Terms
- Elder Law — Legal practice area protecting seniors' rights
- Executor — The person responsible for administering an estate
- Estate Administration — The probate process that may be affected by exploitation
Barnes Walker Elder Law
Barnes Walker's elder law attorneys pursue civil remedies for victims of financial exploitation, including asset recovery, injunctions, and guardianship proceedings to protect vulnerable elders. Request a legal inquiry for assistance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC