Holding Those Looking After The Elderly Accountable

Phil Brown Law has a highly respected reputation for successfully representing the victims of financial elder abuse in Los Angeles County and the surrounding areas of Southern California. This includes providing knowledgeable and skilled representation involving breaches of fiduciary duties.

What Is Fiduciary Duty?

An investment adviser is an example of someone who may hold a position of trust in an elderly person's life. Because of that position, the adviser also has the legal responsibility to act in the elder's best interests. If the adviser is negligent and fails to uphold the elder's best interests, the courts can hold such individuals accountable. We label such negligence as "breach of fiduciary duty."

In a marriage, both the husband and wife have a fiduciary duty to each other — the duty to not take advantage of their positions of trust. A doctor has a fiduciary duty to a patient, a lawyer to his or her client, and so forth.

Mandatory Reporters

Many individuals are legally obligated to report any incidents of suspected financial elder abuse and breach of fiduciary duty, even if they cannot prove it. These people are called mandatory reporters. They include investment advisers, doctors, bankers, and people in numerous other professions. If a mandatory reporter believes something improper has taken place, the law requires such individuals to report it to the proper authorities and open an inquiry.

To learn more about stopping financial abuse and holding the wrongdoer accountable, schedule a personal consultation with attorney Philip Brown. Call his Beverly Hills office at 424-281-0991 or contact him by email.