Financial Exploitation of the Elderly in Miami, Florida

Financial exploitation is the most common form of elder abuse in Florida, and it often goes undetected for months or years before family members discover that a loved one's savings, property, or other assets have been depleted. Florida law provides both criminal penalties and civil remedies to address the financial exploitation of elderly and disabled adults. When exploitation is discovered, it frequently gives rise to estate litigation, including will contests, trust disputes, and actions to recover misappropriated assets.

At the Law Offices of Albert Goodwin, PA, we represent families and individuals who have been victimized by elder financial exploitation. We pursue civil claims to recover stolen assets, seek protective injunctions, and work closely with law enforcement and Adult Protective Services when criminal conduct is involved.

Florida’s Adult Protective Services Act

Florida’s Adult Protective Services Act, codified in Chapter 415 of the Florida Statutes, establishes the state’s framework for identifying, investigating, and addressing the abuse, neglect, and exploitation of vulnerable adults. Under this Act, the Department of Children and Families (DCF) operates the Florida Abuse Hotline and is responsible for investigating reports of exploitation involving elderly persons age 65 or older and disabled adults age 18 or older.

The Act imposes mandatory reporting obligations on certain individuals. Any person who knows or has reasonable cause to suspect that a vulnerable adult has been exploited is encouraged to report that information. Certain professionals—including physicians, nurses, bank officers, law enforcement officers, and other caregivers—are mandatory reporters and face criminal penalties for failing to report known or suspected exploitation.

F.S. § 825.103: Exploitation of Elderly or Disabled Adults

Florida Statute § 825.103 defines and criminalizes the financial exploitation of elderly persons and disabled adults. Under this statute, exploitation occurs when a person stands in a position of trust and confidence with an elderly or disabled adult and knowingly, by deception or intimidation, obtains or uses, or endeavors to obtain or use, that person’s funds, assets, or property with the intent to temporarily or permanently deprive the elderly or disabled adult of those assets.

Criminal Penalties

The criminal penalties under F.S. § 825.103 are severe and depend on the value of the assets involved:

• Exploitation involving assets valued at $50,000 or more is a first-degree felony, punishable by up to 30 years in prison.
• Exploitation involving assets valued at $10,000 or more but less than $50,000 is a second-degree felony, punishable by up to 15 years in prison.
• Exploitation involving assets valued at less than $10,000 is a third-degree felony, punishable by up to 5 years in prison.

In addition to incarceration, courts may order restitution requiring the offender to repay the full value of the exploited assets to the victim or the victim’s estate.

Civil Remedies

Beyond criminal prosecution, Florida law provides civil remedies for victims of elder exploitation. A victim or the victim’s estate may bring a civil action to recover the exploited assets, obtain compensatory damages, and in appropriate cases, seek punitive damages. Civil claims for exploitation often overlap with claims for breach of fiduciary duty, conversion, unjust enrichment, and the imposition of a constructive trust on improperly obtained assets.

When an exploiter has obtained assets through a will, trust amendment, beneficiary designation, or deed executed by the elderly person, the civil remedy may include an action to void the instrument on the grounds of undue influence, duress, or lack of capacity. These claims are central to estate litigation in Florida.

Common Forms of Elder Financial Exploitation

Financial exploitation of the elderly takes many forms. The following are among the most common patterns we encounter in our practice:

Caretaker Theft

One of the most prevalent forms of exploitation involves a caretaker—whether a family member, home health aide, or other person with access to the elderly person’s home and finances—who steals money, valuables, or other property. Caretaker theft may involve writing unauthorized checks, making ATM withdrawals, using the elderly person’s credit cards, or simply taking cash and personal property from the home.

Power of Attorney Abuse

A person who holds a power of attorney for an elderly individual occupies a position of extraordinary trust. Unfortunately, agents under powers of attorney frequently abuse that authority by transferring the principal’s assets to themselves, making gifts to themselves or their family members, changing beneficiary designations, or otherwise using the power of attorney for their own benefit rather than the benefit of the principal.

Undue Influence

Undue influence occurs when a person in a position of trust and confidence uses that relationship to overcome the free will of an elderly person and procure a benefit—such as a new will, trust amendment, deed, or beneficiary designation—that the elderly person would not have made but for the influencer’s overreaching. Undue influence is particularly common in situations involving isolation of the elderly person from family and friends, control over access to the elderly person, and involvement in the procurement of legal documents.

Predatory Lending and Financial Schemes

Seniors are frequently targeted by predatory lenders and financial schemers who convince them to take out unnecessary reverse mortgages, purchase unsuitable annuities or insurance products, or invest in fraudulent schemes. These transactions are often structured to benefit the salesperson at the expense of the elderly person’s financial security.

Romance Scams Targeting Seniors

Romance scams targeting elderly individuals have increased dramatically. In these schemes, a perpetrator cultivates a romantic or emotional relationship with an elderly person—often through online dating platforms, social media, or even in-person interactions—and then gradually persuades the victim to transfer money, provide access to financial accounts, or change estate planning documents in the scammer’s favor.

How to Detect Elder Financial Exploitation

Financial exploitation of the elderly can be difficult to detect, particularly when the exploiter is a trusted family member or caretaker. Warning signs include:

• Unexplained withdrawals or transfers from bank accounts
• Sudden changes to wills, trusts, powers of attorney, or beneficiary designations
• New names added to bank accounts or property titles
• Missing personal property, jewelry, or valuables
• Unpaid bills or utilities despite adequate income or assets
• The elderly person appearing fearful, anxious, or withdrawn
• A caretaker or family member who isolates the elderly person from others
• A new “friend” or companion who takes an unusual interest in the elderly person’s finances

If you observe any of these signs, it is important to act quickly. Reporting suspected exploitation to the Florida Abuse Hotline at 1-800-962-2873 and consulting with an attorney experienced in elder exploitation matters can help protect the elderly person and preserve their assets.

Protective Injunctions

Florida law allows the court to enter protective injunctions to prevent ongoing or threatened exploitation of an elderly or vulnerable adult. Under F.S. § 825.1035, a court may issue an injunction prohibiting the respondent from contacting, exploiting, or coming within a specified distance of the vulnerable adult. Protective injunctions can be a critical tool for stopping exploitation while civil or criminal proceedings are pending.

In addition, the court may appoint an emergency temporary guardian under Florida’s guardianship statutes when an elderly person is being actively exploited and lacks the capacity to protect themselves.

Exploitation and Estate Litigation

Elder financial exploitation and estate litigation are closely connected. Exploitation that occurs during an elderly person’s lifetime frequently gives rise to legal disputes after the person passes away. Common scenarios include:

• Will and trust contests – When an exploiter procures a new will or trust amendment during the period of exploitation, the beneficiaries who were displaced by those changes may bring an action to invalidate the documents on grounds of undue influence, duress, or lack of testamentary capacity.
• Actions to recover estate assets – When assets have been improperly transferred during the decedent’s lifetime, the personal representative or beneficiaries may bring claims to recover those assets for the benefit of the estate.
• Breach of fiduciary duty claims – When the exploiter served as the decedent’s agent under a power of attorney, trustee, or in another fiduciary capacity, the estate may pursue claims for breach of fiduciary duty and seek damages, disgorgement, and surcharge.

Contact a Florida Elder Exploitation Attorney

If you suspect that an elderly loved one is being financially exploited, or if you need to pursue claims to recover assets that were taken through exploitation, the Law Offices of Albert Goodwin, PA can help. We have extensive experience handling elder exploitation matters in connection with estate and trust litigation throughout Florida.

Contact us today for a consultation. You can reach us by phone at 786-522-1411, by email at [email protected], or visit our office at 121 Alhambra Plz #1000, Coral Gables, FL 33134.