As people in California age, it might be hard for them to effectively manage their finances. In these types of situations, a judge typically appoints a conservator or trustee. This person’s role is to help someone else manage their money. Unfortunately, someone in this important role might not have the other party’s best interests in mind. Here are a few signs that a trustee might be abusing their power.
1. Purchase histories that don’t make sense
One of the most common signs of financial elder abuse by a conservator/trustee is seeing strange purchase histories. For instance, you might see repeating charges on an elder’s financial statements for things they don’t need. When this happens, it’s sometimes because a conservator or trustee is buying things for themselves.
2. The potential victim never has money
With someone watching over them, an elderly person should have the income to take care of themselves. If an elderly loved one is having trouble paying their bills or staying fed, it might be a sign that this person’s conservator is abusing their power.
3. Suspicious loans or reverse mortgages start happening
Another sign of an unscrupulous conservator is when strange loans or reverse mortgages take place. Sometimes, conservators make these types of plans to ensure that home equity ends up going to them instead of the person they’re watching over.
Do you suspect that you or a loved one is being financially mistreated by a conservator or trustee? If so, consider contacting a lawyer that takes on financial elder abuse claims. By doing this, you’re helping to ensure that you or your elderly loved ones aren’t taken advantage of by an untrustworthy conservator.