It's heartwarming that several of America's major online financial media networks have quoted from my book, The Wolf at the Door: Undue Influence and Elder Financial Abuse. The latest story comes from TheStreet.com, one of our country's leading online financial websites. Brian O'Connell, a business/finance writer, who regularly covers business news and trends, particularly in the financial, health, internet and technology sectors, wrote an interesting article, "My Stepmother Stole My Inheritance."
I was pleased yesterday to join Drew Mariani of Relevant Radio, part of America's largest Catholic radio network, for a discussion on my book The Wolf at the Door: Undue Influence and Elder Financial Abuse. We covered the basic points of how to safeguard elderly family members from exploitation, a challenge that will only grow in the years ahead as more and more Baby Boomers become senior citizens. That paves the way for the greatest generational transfer of wealth - an estimated $30 trillion - we've ever seen.
I was recently welcomed back as a guest on The Steve Pomeranz Show, hosted by nationally recognized investment advisor Steve Pomeranz. Steve has made his program a fantastic resource for wealth planning, financial literacy, and smart allocation of assets in a volatile economy. It's therefore an honor to return to Steve's show and discuss a serious danger to seniors: elder financial abuse and undue influence.
For many of us, our expectations of fairness arise from an early childhood experience that struck us as "unfair." We may have seen an action affecting us or others that dashed our expectations - expectations often grounded in childhood innocence. These events may stay with us and influence our desire for fairness in our lives and in the lives of others.
Ubiquitous, boorish and monstrous behavior, for years unchecked, is suddenly in the spotlight. Powerful and ordinary men alike are being called to account for the sexual harassment of women. Women long lacking effective routes to counter widespread abuse are now being heard. Decadence long ignored is now getting attention.
Hello, I'm Mike Hackard. I'm the chair of Hackard Law, a law firm focusing on estate, trust and elder financial abuse litigation in California's major urban areas. I'm the author of The Wolf at The Door: Undue Influence and Elder Financial Abuse. The book is now available for order on Amazon. This is episode 25, where I outline some sobering statistics on the financial exploitation of seniors.
Michael Hackard was recently a guest in a KGO-810 interview with radio host and journalist Mike Finney, a tireless consumer advocate who has consistently stood for ordinary citizens against scams and financial predation. They discussed The Wolf at the Door: Undue Influence and Elder Financial Abuse, Michael's new book on countering exploitation of vulnerable elders.
When most of us hear the term "breaking bad," we think of the crime drama Breaking Bad. The drama ended in 2013 after a five-year run. Breaking bad is not confined to an award-winning TV series. The idiom of "break bad" means "to go bad." You don't have to read too many newspapers to see that many of America's banks and bankers are "breaking bad" in cases of elder financial abuse.
The roots of 21st Century inheritance laws run deep into the cradle of Western Civilization. The ancient Greek Athenian leader Solon made great efforts to devise a law code that ultimately became one of the foundations of democracy. This code helped establish rules for a civilized society. Part of the code addressed inheritance rights. Prior to the code an Athenian could not make a will. At death the wealth and assets of the decedent simply belonged to his family.