Legal Question in Elder Law in Florida

son took advantage of elderly father

I have a friend who owned a small factory along with his son. The father who is in his late 70s had many health issues (several heart attacks and cancer) and became very ill during a recent bout with cancer. He agreed to sign his stake of the company over to the son for 100k cash + 1000/week income until he died. The father was practically on his death bed when the son had him sign over the stock in the company. He then gave his father the 100k check and they signed a contract giving son father's share. The father was barely cognizant of what he was signing and didn't realize until afterward that there was no mention of the 1000/week arrangement. The son paid the father the 1000/week for a about a month, then stopped and will not resume the payment leaving the father with very little income. This is obvious abuse because the father is elderly and was in no physical or mental shape to sign that contract which omitted the 1000/week clause. He health has dramatically improved since this took place. What recourse does he have now? This happened in 2004 and my friend doesn't know his rights or what recourse he make take. The factory is still in operation by the son in IN. The fahter lives in FL.


Asked on 10/03/07, 3:28 pm

1 Answer from Attorneys
Scott R. Jay Law Offices of Scott R. Jay

Re: son took advantage of elderly father

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

You failed to mention where this transaction took place. If it happened in Indiana, then it would be governed by the laws of Indiana and you would need to post this question on the forum for Indiana attorneys. If it happened in Florida, then if the father can prove the true agreement, he might be able to sue for damages in court. Without any written agreement, it may prove very difficult. On the other hand, if he fails that the son took advantage of his age and ill health, he may have an action for fraud under applicable law. The gentleman needs to meet with an attorney to discuss his legal rights.

Scott R. Jay, Esq.

Read more
Answered on 10/03/07, 10:51 pm


Related Questions & Answers

More Elder Law questions and answers in Florida