Medical emergencies, especially among aging individuals, can result in long-term rehabilitation and financial distress. Planning ahead for these emergencies is crucial, not only to preserve your assets and your independence but also to protect yourself from unscrupulous practices.
According to a recent article, a woman has filed a lawsuit alleging extensive financial fraud and abuse against a long-term elder care and rehabilitation facility. The woman, who lived alone and independently, entered the facility to recover from numerous medical issues after hospitalization. She alleges employees of the care facility repeatedly suggested that she get rid of her assets and live the remainder of her days in the nursing home facility, which she declined and insisted she did not wish to do.
After this refusal, she was placed on a cocktail of medications that put her under a fog, leading to hallucinations and confusion. It was then that she was coerced into signing a durable power of attorney agreement handing over control of all of her financial decisions to an officer of the care facility, whom the woman had never actually met. This officer kept her from seeing her family and eventually sold all of her assets, including her car, and listed her home on the market.