Florida | Elder Law
Legal Question
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.
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Read More Answered By: Scott R. Jay |
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