Financial Exploitation

The law defines [RCW 74.34.020(7)] financial exploitation as the illegal or improper use of the property, income, resources, or trust funds of the vulnerable adult by any person for any person’s profit or advantage other than for the vulnerable adult’s profit or advantage.  Any incident originating prior to 7/22/2011 must apply the old definition above.  Any incident originating on or after 7/22/2011 must apply the new definition below.

Effective 7/22/2011 (SSB 5042): “Financial exploitation” means the illegal or improper use, control over, or withholding of the property, income, resources, or trust funds of the vulnerable adult by any person or entity for any person’s or entity’s profit or advantage other than for the vulnerable adult’s profit or advantage.  “Financial exploitation” includes, but is not limited to:

(a) the use of deception, intimidation, or undue influence by a person or entity in a position of trust and confidence with a vulnerable adult to obtain or use the property, income, resources, or trust funds of the vulnerable adult for the benefit of a person or entity other than the vulnerable adult;

(b) the breach of a fiduciary duty, including, but not limited to, the misuse of a power of attorney, trust, or a guardianship appointment, that results in the unauthorized appropriation, sale or transfer of the property, income, resources or trust funds of the vulnerable adult for the benefit of a person or entity other than the vulnerable adult; or

(c) obtaining or using a vulnerable adult’s property, income, resources, or trust funds without lawful authority, by a person or entity who knows or clearly should know that the vulnerable adult lacks the capacity to consent to the release or use of his or her property, income, resources, or trust funds.

Return to Training Section

Page Topic: 
Vulnerable Adult Training
OPT OUT of Indexing: 
Yes