What Is Financial Exploitation of a Vulnerable Person?

As a person gets older or sick, they become more vulnerable. Unfortunately, that vulnerability is often taken advantage of by others. One of the most common ways vulnerable individuals are taken advantage of is financial exploitation. Financial exploitation is when a person takes advantage of a vulnerable individual’s finances for their own benefit. 

It’s important to understand the details of financial exploitation so you can protect your vulnerable loved ones and take legal action if necessary.  Hiring an experienced guardianship attorney is also advisable to talk about the many options available to families.  

What Constitutes Financial Exploitation in Florida?

Financial exploitation occurs without a vulnerable individual’s knowledge or consent. Likewise, it deprives the vulnerable person of the financial resources they need to live. The most common forms of financial exploitation include:

• Theft
• Insurance fraud
• Lottery scams
• Electronic scams
• Financial fee scams
• …and more.

If you have a loved one in a vulnerable state, the best thing you can do to protect them from financial exploitation is to keep a record of everyone they’re doing business with and who has access to their money. It’s also important to remember that financial exploitation is often committed by trusted friends and family members. 

What Are the Warning Signs of Financial Exploitation?

Even if you don’t have access to your vulnerable loved one’s finances, there are still warning signs that indicate financial exploitation. The most common red flags for financial exploitation include:

• Transferring money to other bank accounts or sending cashiers checks
• Giving others access to finances without explanation
• Suspicious loss of cash
• Suspicious loss of assets
• Termination of important utilities
• No knowledge of their current financial state

If you witness any of these warning signs, it’s imperative to contact a trusted attorney as soon as possible to see what you can do to stop your loved one from experiencing financial exploitation.

What To Do When You Feel Like You’re Being Financially Exploited

Unfortunately, it can be difficult to prove financial exploitation. Many people who take advantage of others are good at covering up evidence and not leaving behind a paper trail. You might not feel like you have a viable case. 

Even if you don’t have the evidence to prove your case, you should still contact an attorney. A knowledgeable attorney with experience fighting financial exploitation will understand what it takes to uncover the evidence you need to protect yourself or your loved ones.  An experienced guardianship lawyer will assess your current situation and gather important details about the situation to help you take action.

The Injunction Attorneys at Fighter Law Are Here For You

At Fighter Law, we care about protecting you. As our client, you’re our most important asset, and we want to help you protect yourself and your loved ones. Our attorneys have decades of valuable experience fighting financial exploitation and can help you file an injunction when you’re ready. To schedule a free case overview, call our office at 407-FIGHTER or contact us online today. Don’t wait. We are here and ready to help you any time of day or night.

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