Iowa Elder Fraud Statutes
In Iowa, financial exploitation of an elderly person takes place when someone “stands in a position of trust or confidence with the vulnerable elder and knowingly and by undue influence, deception, coercion, fraud, or extortion, obtains control over or otherwise uses or diverts the benefits, property, resources, belongings, or assets of the vulnerable elder.”
A vulnerable adult is considered anyone age 60 or older who can’t protect himself or herself from abuse due to their age or a physical or mental condition.
If someone believes they are the victim of elder financial abuse, the first step involves filling out a petition that has to include the names of everyone relevant to the case, the nature of the abuse, and the desired relief. Then a temporary or emergency protective order may be issued. At that point, a hearing or hearings will be scheduled.Court orders
If the court determines that a vulnerable adult has suffered financial exploitation, relief may be ordered to remedy the situation, and this could include:
Having the defendant stop “exercising control over the funds, benefits, property, resources, belongings, or assets of the vulnerable elder.”
Forcing the defendant to return control or custody of any of those assets and prohibiting the transfer to anyone but the vulnerable adult.
Compelling the defendant to heed the instructions of an attorney, conservator, or guardian.Why arbitration may be the best route to take
Settling matters through the courts is a good option in certain instances, but many people can’t afford to wait for a resolution. This is one of the reasons why arbitration is often the better choice, as it can be a much faster – and less expensive – way to recover lost funds.
If you would like to learn about the arbitration process and how it works, get in touch with the elder financial fraud attorneys at the Silver Law Group. Call our office at 800-975-4345 or send us a message through our online form and someone will get back to you quickly.