People have a better chance of protecting themselves against elderly abuse, if they make plans before it has a chance to happen, according to the Wills, Trusts & Estates Prof Blog "Seven Tips for Protecting Clients from Elder Abuse."
A number of laws at both the federal and state levels are being passed to address elderly abuse. However, the laws are flawed because they address the abuse rather than prevent it.
People who make plans before they become elderly, are at a significant advantage.
One of the things they can do with the help of an attorney, is to draft documents that determine in advance how mentally incapacity would be defined for them. That way if they start having problems, they will have documents in place to let someone else take over.
This can be better than relying on an elderly person, who is starting to see some signs of mental impairment, to recognize the problems and let someone else take over before a bad actor comes along and commits elder financial abuse.
Working with an attorney beforehand lets you also do several other things, such as creating trusts, advanced medical directives and powers of attorney. If you want to ensure your estate plan is secure today, contact us for a free consultation.
Reference: Wills, Trusts & Estates Prof Blog (June 13, 2017) "Seven Tips for Protecting Clients from Elder Abuse."