Legislative Update on Financial Abuse Bill to Protect Seniors
Two bills granting the ability for Virginia courts and Commonwealth Attorneys to punish people who financially abuse seniors have cleared the Virginia House and Senate.
Senate Bill 261 and House Bill 1166, introduced by Senator Ben Chafin and Delegate Will Wampler, was recommended by the Virginia Trial Lawyers Association Virginia Criminal Justice Conference (VCJC). The VCJC elder abuse subcommittee is the group responsible for authoring the bills.
Financial abuse is when someone gains power or control over a vulnerable senior's assets and manipulates, intimidates, or threaten a victim. Forms of financial abuse can be subtle or overt, "but in general, include tactics to conceal information, limit the victim's access to assets, or reduce accessibility to the family finances."
According to WJHL-TV Channel 11 News (www.wjhl.com), "the release says that under current law, courts can appoint an individual to manage the financial affairs of a senior citizen or adult who is incapable of doing so themselves."
The court-appointed person must now file reports that ensure "the financial affairs of the incapacitated adult are being managed appropriately, and "Court-appointed guardians and conservators must sign, under oath, that the information they are reporting is truthful."
The Impact of Financial Abuse can be devastating:
"For those who manage to escape the abuse and survive initially, they often face overwhelming odds in obtaining long-term security and safety. Ruined credit scores, sporadic employment histories, and legal issues caused by the abuse make it extremely difficult to gain independence, safety, and long-term security."
As senior care professionals, we feel it is vital to help raise awareness about how elder fraud and abuse can be addressed. Please share the importance of legislation to protect seniors and help protect us all as we age.
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Notes:
Legislation to help prevent financial abuse of elderly .... https://www.wjhl.com/news/regional/virginia/legislation-to-help-prevent-financial-abuse-of-elderly-passes-both-virginia-senate-and-house/