What EFA does:
EFA provides the protections that existing laws do not provide and legal assistance if you become a victim. EFA makes sure you understand and desire the effects of the testamentary documents presented to you for signing. We can monitor the use of your power of attorney and take appropriate action to prevent abuses. EFA provides services at any time including during any hospitalizations.
EFA also provides training and education to law enforcement, banks and trustees, caregivers, prosecuting attorneys, victim assistance providers, agencies on aging and adult protective services. We strive to recruit and retain probate litigators for the victims of theft by means of a will, trust or poa. We promote the voluntary use of preventative protocols by those presenting probate documents for signatures.
What is financial exploitation of the elderly and vulnerable?
Financial exploitation is the improper or illegal use of a senior's or incapacitated adult's resources by a third party for their personal gain or profit. This is most often done through a power of attorney or other testamentary document.
Myths of legal protections against financial exploitation
Laws exist that protect you at the time testamentary documents are signed. The holder of your power of attorney must report to you on his use of your power of attorney. Banks and clerks of court have to inform you of transfers or changes made by your power of attorney. A notary is responsible for assuring that your rights have been protected at the time documents are signed.
Truths of financial exploitation
No laws exist to protect you from undue influence or duress when testamentary documents are signed. Your power of attorney has no legal obligation to inform you of actions he takes in your name and on your behalf. Financial institutions and clerks of court accept a power of attorney to transfer assets and titles to property with no legal obligation to inform you of transfers in your name. A notary only verifies your identity, not lack of duress.
