Florida Considers New Laws to Protect Seniors from Scams

It is not surprising that the State of Florida takes the protection of its senior population seriously. After all, the Sunshine State has one of the largest senior populations in the country and it remains a popular location for new retirees. But can you really rely on the government to protect you and your loved ones against sophisticated scam artists? A new set of proposed laws in Florida could offer further safeguards but guidance from an experienced elder law attorney in Palm Beach County may offer additional protections.
New Florida Law Could Make It Easier to Freeze Fraudulent Transactions
In December of 2024, the Florida Bar announced a new set of proposed laws that could help protect vulnerable seniors from scammers. These laws would allow seniors and concerned family members to freeze fraudulent bank transactions through court injunctions. The new law would make this possible with or without the assistance of a lawyer.
Too often, seniors push for these fraudulent transfers to go through. This often occurs in romance scams, as fraudsters are capable of exerting considerable influence over elderly victims.
Time is of the essence in this scenario, and there may not be enough time to contact a lawyer and pursue a court injunction before the funds disappear completely. This new law could allow guardians, representatives, and banks to quickly halt transactions before it’s too late. If this new law passes, a legal representative or guardian could pursue something called an “exploitative injunction.” This would theoretically streamline the process – making it as fast as possible.
Steps to Take After a Senior Scam
One can only hope that Florida’s lawmakers will make it easier to prevent senior scams in the future. Regardless of whether a scam was successful or not, families may want to take various steps to prevent further losses.
One common strategy is to establish a trust and transfer the senior’s funds into this separate legal entity. Although the senior will still be able to use the funds, the presence of a trustee could provide enough oversight and scrutiny to raise alarm bells if scams occur in the future.
Another option is to pursue guardianship, as this would provide concerned family members with control over the senior’s financial decisions in the future. You can pursue both of these options alongside an experienced elder law attorney.
Can an Elder Law Attorney Help Protect Against Senior Scams?
An elder law attorney in Palm Beach County may help families protect themselves against various senior scams. A trust is a popular asset protection strategy, and it may offer numerous additional benefits aside from shielding funds from scammers. An elder law attorney in Palm Beach County may also help families hold guilty parties accountable for financial exploitation of a senior. To learn more, consider a consultation with Kitroser Lewis & Mighdoll today.
Sources:
floridabar.org/the-florida-bar-news/elder-law-section-backs-bill-to-combat-scams-targeting-vulnerable-seniors/
aarp.org/money/scams-fraud/info-2024/new-laws-scam-victims-banks.html#:~:text=Florida’s%20new%20law&text=It%20allows%20a%20bank%20to,being%20exploited%2C%20the%20law%20says.