Over the coming years, baby boomers are expected to transfer trillions of dollars to younger generations. Yet some of those assets may never reach their intended beneficiaries. Financial exploitation—often by a relative, caregiver, adviser, or another trusted person—can quickly undo even the most careful estate plan.

The scale of the problem is substantial. The Federal Trade Commission estimated that fraud and abuse cost older victims nearly $2.4 billion in 2024. Maryland’s Stop Adult Financial Exploitation Act—the SAFE Act—offers an important civil remedy for affected adults and their families.

At a Glance

• The SAFE Act protects Maryland adults age 68 and older, as well as certain younger adults who are considered susceptible.
• It covers misconduct ranging from theft and deception to coercion, misuse of accounts, and certain breaches of fiduciary duty.
• A successful claim may result in treble damages (i.e., three times the victim’s loss), attorney’s fees, and other court-ordered relief.

How the SAFE Act Works

Passed unanimously by the Maryland General Assembly in 2021, the SAFE Act protects adults age 68 and older and other adults who meet the law’s definition of “susceptible.” It provides a civil route for addressing several forms of financial misconduct.

Financial exploitation may include:

• Misuse of a trusted or confidential relationship to deprive an adult of property or assets.
• Deception, theft, embezzlement, intimidation, coercion, isolation, or excessive persuasion.
• Certain breaches of fiduciary duty.
• Unauthorized taking, misuse, or transfer of personal assets, including funds in personal or joint accounts.
• Intentional failure to use an adult’s income and assets for necessary support and care.

The SAFE Act allows a civil lawsuit in addition to any criminal or administrative remedies that may apply. The affected adult may bring the claim, as may certain representatives—including a guardian, trustee, spouse, parent, descendant, presumptive heir, named beneficiary, or personal representative. A claim may also survive the adult’s death, allowing a qualified representative to act when exploitation is discovered later, subject to applicable deadlines.

Why the SAFE Act Is Different

The SAFE Act offers remedies that may go beyond those available in an ordinary civil case. Depending on the circumstances, a court may award:

• ‍Treble damages—up to three times the victim’s loss.
• ‍Reasonable attorney’s fees when a plaintiff obtains monetary damages or another remedy.
• ‍Additional relief, such as an injunction, rescission of a contract, declaratory relief, or an accounting of assets.

Protections for Other Susceptible Adults

Protection is not limited to people age 68 and older. The law also covers certain adults who, because of age, disability, disease, impaired mobility, substance dependence, hospitalization, or another covered condition, cannot independently manage daily activities, protect their rights, or exercise full executive functioning.

Daily activities may include managing money or medications, maintaining a home, arranging transportation, shopping, preparing meals, moving safely, eating, and dressing. In practice, this means the SAFE Act may also protect younger Maryland adults who are vulnerable because of mobility limitations, addiction, mental illness, hospitalization, or other serious conditions.

The Bottom Line

Financial exploitation can take away the resources an adult needs for housing, healthcare, and daily support. It can also defeat carefully made plans for passing assets to family members, charities, or other chosen beneficiaries. Maryland’s SAFE Act gives affected adults and their families a potentially powerful way to recover losses and seek protective relief.

Concerned about possible exploitation? If you believe that you or someone you care about may be experiencing financial exploitation in Maryland, contact an RKW attorney to discuss the options that may be available under the SAFE Act.