Securities Arbitration Lawyers BlogElder Financial Abuse: Power of Attorney Scams
Giving someone power of attorney over an individual legally allows them to make certain decisions on that person’s behalf. This is often necessary in situations where a person is elderly, intellectually disabled, or otherwise incapacitated. When properly used, giving power of attorney to a trusted individual can often make things easier for
When properly used, giving power of attorney to a trusted individual can often make things easier for a person who is unable to travel, sign paperwork, open or close bank accounts, deal with insurance policies, and engage in other necessary financial activities. Unfortunately, power of attorney can be abused, often by financial advisors or brokers, leading to serious financial consequences for the victim.