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New Legislation Passed To Protect Elderly

Financial abuse by someone that an elderly member trusted is now becoming a lot more difficult to do in one state. New legislation that went into effect radically changed the power-of-attorney document. Legislators believed that this elder abuse legislation comes at the perfect time, since financial abuse is one of the fastest growing areas of elder abuse. Now, the power-of-attorney is much more difficult to obtain. Both the principal and the agent must sign the POA and the signature must be notarized. The document specifically states that when you accept the authority to act as an agent, you create a special fiduciary relationship with the principal that imposes legal responsibilities until you resign or the power of attorney is terminated. The principal can also appoint a monitor to insure that they are not the victim of financial exploitation. It also makes it easier to bring a civil suit against an agent who has acted inappropriately. This new elder abuse legislation is extremely important in combating financial abuse, and should be implemented in Illinois. To read more about the new legislation, please click the link.