Virginia Senate Bill SB690

Virginia 2022 Regular Session

• Introduced: 1/20/22
• Refer: 1/20/22

Caption

Misuse of power of attorney; financial exploitation of incapacitated adults, penalty.

Impact

If enacted, SB690 would amend existing Virginia law concerning the authority granted through a power of attorney. Specifically, it introduces penalties for agents who misuse their delegated authority, ensuring that those who exploit incapacitated adults face legal consequences. This amendment aims to enhance protections for adults who may become susceptible to unscrupulous actions due to their incapacity, thereby reinforcing fiduciary responsibilities and standards in financial matters.

Summary

SB690 aims to address the financial exploitation of incapacitated adults through stricter penalties for abuses related to the misuse of power of attorney. The bill defines financial exploitation as the unauthorized or illegal use of an incapacitated adult's resources for the benefit of another. With clear and specific definitions of terms such as 'agent', 'principal', and 'financial exploitation', the bill lays the groundwork for legal proceedings against those who take advantage of vulnerable individuals. The legislation categorizes the unlawful exploitation as a Class 1 misdemeanor, which signifies a serious legal infraction that warrants criminal prosecution.

Contention

While the bill has received bipartisan support for its intentions to safeguard the financial interests of incapacitated adults, there may be concerns regarding the implications of broadly interpreting financial exploitation. Critics could argue that the definitions are too vague, potentially leading to unintended consequences or misuse of this legislation against family members or caregivers. Thus, while aimed at protecting vulnerable adults, the bill's implementation could raise challenging situations surrounding the interpretation of what constitutes exploitation or mismanagement of resources.