By: Jane A. Black
As many as five million elderly persons are abused, neglected,
or exploited each year—making elder abuse one of the gravest legal
issues affecting the elderly in the twenty-first century.
Financial exploitation, defined as the improper use of an older
person’s funds, property, or assets, is the third most common—and
fastest growing form—of elder abuse. A widespread form of
financial elder abuse is the misuse of a power of attorney that an
elderly person has granted. Most disturbingly, is that
family—children, grandchildren, siblings, nieces, and nephews—are
the people most likely to cheat the elderly.
This scenario is exhibited by the recent accusations against the
son of the late philanthropist Brooke Astor. In 2006 court
documents, Astor’s grandson accused his father, who held his
mother’s power of attorney, of neglecting Astor’s care while
enriching himself with millions from the former socialites large
fortune. Under scrutiny by the court, for example, was a
series of amendments Astor made to her will in the years preceding
her death, one which shifted control of Astor’s fortune to the
son. While a judge overseeing the Astor case ruled that
claims of elder abuse against the son were unsubstantiated, the
Park Avenue socialite’s story exposes the grave legal issue of
elder abuse.
This note examines cases that highlight instances of financial
abuse of the elderly by the holder of a power of attorney and
critiques the weaknesses in such laws, which allow for such abuse
to take place. This note proposes solutions aimed at
preventing this form of abuse and effectively prosecuting abuse
that does take place. The author asserts that federal and
state legislatures need to enact uniform laws and sanctioning
mechanisms in order to effectively protect the elderly. In
addition, preventative measures such as built-in safeguards in the
power of attorney document itself will help avert the abuse in the
first place.