More people are living past the age of 65 and own considerable assets. Unfortunately, this makes seniors a target for perpetrators seeking to exploit the vulnerable for their own profit. Sadly, the perpetrator is sometimes a family member.
At Kenneth E. Devore & Associates, we believe the first step to protect seniors from financial elder abuse is proactive estate planning. We tailor an estate plan specifically to meet the needs of each client, including trusts and durable powers of attorney. We also advise regarding the selection of trustees and agents to act on the client’s behalf when they are no longer able. Collaboration with other professionals, such as the elder’s accountant and financial advisor are critical to protect an elder against potential abuse.
If the senior is unable to sign a power of attorney or if a power of attorney would not be sufficient to keep the senior’s assets safe, we will assist their loved one in seeking a conservatorship through the courts.
If a senior finds themselves in a situation where they are being exploited or have already been the victim of financial abuse, we will evaluate the circumstances and advise regarding the appropriate remedies, including reporting to government agencies and possible legal redress through the courts. Kenneth E. Devore & Associates approaches this delicate subject matter with caring and sensitivity.