Strangers and people close to home
Financial fraud against older adults comes from two directions. Strangers run phone, romance, tech support, and government impersonation scams, often aimed at people who live alone. People close to the victim, including relatives, caregivers, and agents under a power of attorney, may take money more gradually through checks, transfers, or changes to accounts and estate documents. Both are serious, but they call for different responses: a stranger usually means banks and law enforcement, while an insider may mean civil action, guardianship questions, or both. It is also common for a family member honestly managing a parent's money to be accused by a sibling, which becomes a dispute of its own.
Protecting the money now
Call the bank and ask for its fraud or elder financial exploitation team; many institutions can flag accounts, delay suspicious transactions, or report concerns to authorities. Report suspected exploitation to Adult Protective Services, and to police where money was taken. If your parent still has capacity, involve them at each step, since they keep the right to make their own decisions, including ones you disagree with. Collect statements, the power of attorney, recent changes to beneficiaries or deeds, and contact details for anyone new in their life. If you do not hold legal authority over the accounts, do not move funds yourself, however good your intentions.
When a court needs to be involved
Some situations call for court action, such as challenging an agent's use of a power of attorney, seeking a guardian for someone who can no longer protect themselves, or suing to recover money from the person who took it. In New York, guardianship is a court proceeding that weighs the person's own wishes and favors the least restrictive option, and it is not granted just because a relative asks. Civil recovery depends on whether the person who took the money can be identified and has assets. Our first meeting sorts out who has authority now, what can be stopped right away, and whether a filing is needed. If you are the one accused of misusing an older relative's funds, we review the records with you before you respond.
