Chicago Elder Law Litigation Lawyers for Asset Recovery
Cook County Attorneys Fighting Against Financial Elder Fraud and Abuse
Whether due to negligence or intentional mismanagement, improper handling of Estate assets and property is a serious matter. It is wise to seek the counsel of an attorney with proven experience in Estate law, probate law, and probate litigation. If the Estate belongs to an elderly or disabled individual, hiring a lawyer who is knowledgeable about elder law litigation and financial exploitation is a must.
The Law Offices of Anthony R. Scifo is a respected Elgin, Illinois probate litigation firm serving the Chicago area. Matters of probate, probate litigation, and elder law litigation are a central focus in our practice. Our firm has emerged as a leader in these complex, multi-transaction, procedural cases. Attention to details matter. We carefully examine every aspect of an asset recovery matter and take action to secure the best possible results for our clients.
Helping Clients Recover Assets in Estate Matters in South Elgin and Hoffman Estates
Without proper safeguards in place, the mismanagement of assets is not always immediately evident. In some cases, improper asset handling is discovered after the Estate owner passes away. Our asset recovery attorneys are ready to take action on behalf of your loved one immediately by using proven strategies such as issuing a citation to recover or discover assets. This process allows us to:
- Track down and account for all assets included in an Estate;
- Review all pertinent documentation and data related to the Estate;
- Communicate with financial professionals familiar with the Estate; and
- Take measures to prevent further removal of property from the Estate.
These citations are used for the purpose of identifying and returning the rightful property to the Estate. It also provides an avenue to investigate the sources of income or existing property of the person who is accused of breach of fiduciary or trustee duty, misappropriation of funds by executor of the Estate, and improper asset allocation.
Understanding Misappropriation and Breach of Fiduciary Duty
Each Estate has a named Executor or Administrator, who is responsible for administering the Estate. When no Will is present, the Administrator takes over. In the event of a Will, the Executor is bound to carry out the decedent’s last wishes and has an affirmative duty to protect the Will or Trust and properly manage the Estate. Executors may be any individual named by the decedent, with few exceptions. This includes family, trusted friends, and even caregivers. Misappropriation can occur in a variety of manners, including when the Executor removes property from the Estate without a valid reason.
A breach of fiduciary duty or trustee duty occurs when a person in a position of trust, whether established legally or due to the relationship with the Estate owner, takes property without authorization to do so. Those in a position of trust may include relatives, business partners, guardians and power of attorney agents. Two examples of financial exploitation that may occur while the Estate owner is alive include power of attorney misuse and caregiver financial abuse. When handling such matters, timing is extremely important. We are ready to help you today.
Contact a Skilled Chicago Asset Recovery Lawyer
If you suspect fraudulent estate dealings, it is best to contact our Chicago elder law attorneys immediately. We can help sort out the matter and advise you on how to move forward. Please call 847-628-8311 to schedule an initial assessment of your asset recovery issue. We proudly serve Chicago, Elgin, Rolling Meadows, Barrington, Carpentersville, Crystal Lake, Hoffman Estates, South Elgin, Lake in the Hills, Kane County, and Cook County.