Wondering where mom or dad’s money went the last few years? Florida probate lawyers will tell you that although health care costs and medical expenses can drain assets as we age, you should consider asking questions if you see large outflows of money or large “gifts” when mom or dad were failing.
$ Questions About Parent’s Money Which May Require Answers in the Probate Court
- Did property change hands?
- Were there a number of wire transfers on the bank account?
- Were assets re-titled?
- Were there a lot of checks to cash or large ATM withdrawals?
- Was a power of attorney used to transfer property or money?
Financial Exploitation Law in Florida
- If you suspect that someone may have taken advantage of your mom or dad, or maybe your rich aunt from Delray Beach, you may want to ask a Palm Beach probate litigator or estate lawyer
- If your mom or dad is still living, consider talking to their estate planning attorney or CPA (who does the taxes)
- You may need to get the guardianship court to intervene if your parents need protecting
- Otherwise, if you mom or dad has passed away, you may want to know where the money went by learning about assets and money in the Palm Beach probate
- If you suspect that someone who was given trust & confidence is mi-using that trust, consider the remedies available to you under Florida Law
- Florida law has a lawsuit which can be filed if financial expoloitation of a vulnerable adult took place .
- Consider reading Florida Chapter 415 and specifically the statute on financial exploitation: Fla. Statute 415.1111 which deals with civil remedies — a civil lawsuit to recover damages or property
- You may also wish to read Florida Statute 415.102 which provides you with definitions of “exploitation“, which includes financial exploitation in Florida, and a “vulnerable adult”
A copy of the Florida Statute on elder abuse and financial exploitation can be read for free online. Here is a the link to read the Florida law for free: http://www.leg.state.fl.us/STATUTES/index.cfm?App_mode=Display_Statute&Search_String=&URL=0400-0499/0415/Sections/0415.1111.html