Financial abuse under the EADACPA is defined as a situation in which one or more of the following apply:

• A person who has the care or custody or an elder or who stands in a position of trust of an elder or dependent adult, takes, keeps or appropriates money or property, to any wrongful use, or with the intent to defraud them;
• A situation in which anyone defrauds an elder or dependent adult; or,
• A situation in which someone holds in trust the money or property of a dependent adult or a dependent elder and refuses in bad faith to make the money available to the elder.

The definition of "financial abuse" under the EADACPA may make civil remedies available to unfair acts and practices and other fraudulent or deceitful conduct committed in a commercial context.

This would open the door to enhanced remedies against unscrupulous individuals who hold themselves out as home improvement contractors, mortgage loan brokers or home equity lenders and others who take advantage of the elderly. The importance of the enhanced remedies under the EADACPA will be discussed below.

If you are a concerned relative or friend of an elderly person that you believe is suffering from elder abuse in the Los Angeles area, we'd like to hear from you. Contact us online or call us at 818-756-2029 to set up a FREE consultation to discuss your legal options.