Governor Signs Bill Helping Fight Financial Exploitation
Over the past year, Chicago litigation lawyer Tim Ritchey has met with members of the Chicago probate community, as well as state legislators, to discuss modifying sections 755 ILCS 5/2-6.2 and 5/2-6.6 of the Illinois Probate Act of 1975. After speaking before the Illinois Congress, SB2955 was approved and signed by Gov. Quinn, which helps extend remedies for victims of financial exploitation.
Under the revised statute, civil or criminal findings of financial exploitation will affect the abuser’s ability to receive any benefit from the Estate upon the passing of the victim. For all purposes of administration they would be treated as predeceased.
While it is always unfortunate to learn that a client has become a victim of financial exploitation, the new statute aims to offer another remedy to the aggrieved party and his/her family and beneficiaries. By understanding the new statute, attorneys are in a position to aid their clients and their families when such an issue arises.