ACCESS TO JUSTICE FOR PEOPLE WHO HAVE BEEN INJURED BY THE NEGLIGENT ACTS AND FINANCIAL ABUSE
There are many additional actions and remedies available for particular types of financial abuse, such as commercial transactions, unfair competition, fiduciary abuse, and representative payees.
Some of the remedies can include post-mortem recovery for pain and suffering and mandatory attorney fees and costs, including fees for the services of a conservator litigating an elder abuse claim.
Who is the Mandated Reporter?
Officers and employees of financial institutions are mandated reporters of suspected financial abuse of an elder or dependent adult. They must report to APS or the local law enforcement agency any known or suspected incident of financial abuse related to a transaction or matter within the scope of their employment or professional practice or, if they know that the elder or dependent adult resides in a long-term care facility, must report any such incident to the ombudsman or local law enforcement agency. Welf & I C §15630.1(d).
Nonfraudulent breach of fiduciary duty
No specific limitations period governs actions for breach of fiduciary duty. Therefore, an action for breach of fiduciary duty does not amount to actual or constructive fraud. A breach of fiduciary duty claim is based on the concealment of facts, and the statute, therefore begins to run when plaintiffs discovered, or in the exercise of reasonable diligence could have discovered, that facts had been concealed.
Recovery of Property sold by guardian or conservator
Where the alleged breach of fiduciary duty was the sale of property by a guardian or conservator, an action to recover the property must be commenced within 3 years of the termination of the guardianship or conservatorship; or if later, within 3 years after removal of any legal disability (e.g., minority) that existed when the action accrued.