What is penalty in Kansas Law for exploiting elderly financially?

Question by Rhonda W: What is penalty in Kansas Law for exploiting elderly financially?
Parents agreed to have names taken off deed to house and allowed third party to take all the profit. Unless Medicaid makes an exception, they may have to pay for months of their Nursing Home care when needed. Is the party guilty of exploitation responsible to pay back the ill-gotten gain or is their jail time involved. I just don’t know.

Best answer:

Answer by bkc99xx
Were they in foreclosure or in some other financial difficulty concerning their house?

How much was the house worth and how much debt was assumed when the new people took it over?

I have bought houses from people in less than favorable conditions, but I always had a formula to use to ensure that I would have a strong basis for the decisions that were made. In effect, I would always come up to a value to be split between the homeowner and myself based on the equity and the amount of work required. Then, I knew that, within reason, no one else in the market would offer them much if any more for their house.

However, I would talk to people that I would offer $ 10-$ 15,000 to above what they owed and find out that some others had been there offering $ 500-$ 1,000 hoping that in desperation, the homeowner would take it.

Unfortunately, unless you can prove that the parents were unfit to make their own decisions at the time, there may not be much you can do.

If, it happened within the last day or so, there may be a 3 day right to revoke the sale in your state. If you are within that time frame, investigate that as quickly as possible.
Good Luck

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One thought on “What is penalty in Kansas Law for exploiting elderly financially?”

  1. The following are examples of financial abuse of the elderly:

    * Unusual banking activity (e.g. large withdrawals during a brief period of time, switching of accounts from one bank to another, ATM activity by a homebound elder)
    * Bank statements (credit card statements, etc.) no longer come to the older adult
    * Documents are being drawn up for the elder to sign but the elder can not explain or understand the purpose of the papers
    * The elders living situation is not commensurate with the size of the elder’s estate (e.g. lack of new clothing or amenities, unpaid bills)
    * The caregiver only expresses concern regarding the financial status of the older person and does not ask questions or express concern regarding the physical and/or mental health status of the elder
    * Personal belongings such as jewelry, art, furs are missing
    * Signatures on checks and other documents do not match the signature of the older person
    * Recent acquaintances, housekeepers, “care” providers, etc. declare undying affection for the older person and isolate the elder from long-term friends or family
    * Recent acquaintances, housekeeper, caregiver, etc. make promises of lifelong care in exchange for deeding all property and/or assigning all assets over to the acquaintance, caregiver, etc.

    I am going to assume that the “third party” who took the profit was a care giver of the elderly parents. This looks like a case of financial “elder abuse” to me.

    If you suspect that an elderly or disabled adult may be in danger of harm from abuse, neglect, exploitation or fiduciary abuse there is something you can do to help. Adult Protective Services works with other community agencies to assist adults at risk who may be unable to protect themselves from harm. If you know of a situation where you suspect a vulnerable adult is at risk, you can get help for them by calling the Kansas Protection Report Center in-state toll free HOT LINE at: 1-800-922-5330. Telephone lines are staffed in the Kansas Protection Report Center 24 hours a day including holidays.

    There have been a lot of articles posted on the Internet about financial abuse of the elderly, and I would commend them to you for review.

    For this and other matters, I would suggest you also consult with an attorney specializing in Elder Law in Kansas.

    Edit: { 22 May 2007}

    Did the person who received the profit have a power of attorney for your parents? Was that person a caregiver?

    I do not know enough about the situation to determine whether that person stole the proceeds of the sale of the house, or whether that person promised to care for the parents in exchange for the money. It is possible that some criminal repsonsiblity may be there, but rather it may also be possible that there may be a remedy in a court of equity.

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