Scope of who can be held responsible for elder financial abuse and exploitation is growing
Financial abuse is commonly targeted at senior citizens. Seminars are one way the elderly can be convinced that they need financial products they do not. Estate planning is one example of an avenue used to dupe elderly attendees. Whether senior centers that hold these sales presentations can be held responsible has been questioned in California. There, facilities that allow financial elder abuse to occur can fall in the sphere of responsibility. A senior center could be named co-defendant in a financial lawsuit. A class action lawsuit filed by California Advocates for Nursing Home Reform & the Institute on Aging claims that some companies acquired information about seniors' finances through seminars and sent agents to their homes to sell financial products. It is now being questioned whether facilities that housed those seminars could also be implicated. Some senior centers in California have been warned to screen presenters in order to prevent being held responsible for financial elder abuse and exploitation.
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