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Protect Seniors from Inheritance Exploitation | Financial Advisor Interview

Financial Advisor Protecting Inheritance Trust.jpgFinancial advisors, ever vigilant to market trends, are now empowered to extend their vigilance to protecting seniors from inheritance exploitation. Journalist Juliette Fairley explains this empowerment in her Financial Advisor magazine article "What Advisors Can Do About Inheritance Exploitation."

Finra Rule 2165 facilitates an advisor's ability to put a temporary hold on funds or securities disbursements from the accounts of specified customers. The rule defines the term "financial exploitation" and gives the financial advisor a "safe harbor" when exercising discretion to protect an elder or impaired adult from the wrongful or unauthorized taking of the customer's funds or securities.

I'm grateful that Juliette Fairley interviewed me on this subject and referenced my new book Alzheimer's, Widowed Stepmothers & Estate Crimes. Protecting elders from financial and inheritance exploitation is a daunting challenge for my generation, the baby boomers.

Whatever our position in life, we can play a role in meeting this challenge. Financial advisors, attorneys, CPAs, medical professionals, friends, family and neighbors should exercise heightened vigilance in discerning and protecting against those who would use deception, intimidation or undue influence to gain the property of a vulnerable elder.

We at Hackard Law work to be part of the national conversation in protecting seniors against financial and inheritance exploitation. We know that it is far better and less expensive to prevent the exploitation before it occurs. Increased professional, social and family awareness contribute to this prevention.

We are often engaged when the foul acts against the seniors have already occurred. The task then is recovery - a process involving the probate and civil divisions of California Superior Courts.

Hackard Law represents clients from throughout our country in California estate, trust and elder financial abuse litigation. We litigate in most of California's major urban areas including Los Angeles, San Mateo, Alameda, Contra Costa and Sacramento Counties. If you'd like to talk to us about your case, call us at 916 313-3030. We'll be happy to hear your story.

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