Earlier this summer, a story was posted about financial elder abuse.
The story of a 101 year-old woman who filed a lawsuit against her 74 year-old friend alleging violation of fiduciary duties. The 101 year-old woman had given her 74 year-old friend some control over her money and affairs, making her a joint holder on her bank accounts and a beneficiary in her will.
She later filed suit after discovering her friend had set up CDs for her own children and continued withdrawing funds long after she knew she no longer had power of attorney.
A Circuit Judge ruled that there was clear and convincing evidence that there were no gifts made. The 101 year-old woman will get all of her money back.
For the full article.