Loved Ones Do Steal From Aging Parents And Friends

Photo Credit: Gage Skidmore Creative Commons Attribution-Share Alike 2.0 Generic

The financial exploitation of older people… This is a growing problem throughout the country.

But, if you have proper legal documents set up, it makes this kind of inter family abuse more difficult to pull off.

As it turns out, it may require some well-known famous names getting into financial troubles with loved ones to make everyone else take notice and realize that the same thing could happen to them. You don’t have to be a billionaire or even a millionaire for someone to want to get their grubby hands on whatever assets you do have.

Two recent cases which involve Marvel Comics legend Stan Lee and Astronaut Buzz Aldrin are bringing this frequently unreported crime to the forefront. In the case of Stan Lee, who recently passed away at age 95, it is alleged that a memorabilia collector is attempted to isolate Mr. Lee in order to gain control of his fortune. The courts stepped in and issued a temporary restraining order barring this collector from any further contact with Lee.

In the case of Buzz Aldrin who is 88, he is claiming that two of his children and a former manager are in collusion attempting to seize control of his estate. They are claiming Mr. Aldrin has memory loss and is confused.

The fact is that financial exploitation of older people is a growing problem as Baby Boomers are aging.

Families are reluctant to prosecute so they stay quiet and so it happens and stays under the radar, often leaving elderly parents destitute in their final years.

It’s imperative that you create an estate and asset protection plan while you are still mentally sharp. As much as you may not want to discuss financial matters and prefer to keep them private, you are doing yourself a disservice and putting yourself in a position to be taken advantage of. Don’t wait. Just do it! Give our office a call today.

Looking to find an experienced estate lawyer in the Georgia area who is skilled in asset protection and estate plan preparation? Shannon Pawley is an attorney in Georgia with expertise in estate planning and asset protection. Shannon can provide assistance with creating an estate plan to include making a will and how to establish a trust properly. If you have questions about asset protection or questions about making an estate plan, reach out to Shannon and she will be glad to help answer all the estate planning questions you might have!