This week I was pleased to join Chuck Jaffe, host of the popular radio show Money Life. Chuck is a veteran journalist with nationally syndicated columns in publications like The Wall Street Journal, The Boston Globe, and MarketWatch, and it goes without saying he knows a thing or two about financial management and well-being.
The outlook is dreadful. You can see what's happening. You know that there is an aftermath to your parent's isolation from family members.
I'm Mike Hackard of Hackard Law. We handle substantial trust, estate, probate and elder financial abuse litigation cases in California's largest cities and counties. Frequent venues include Sacramento, Los Angeles and the major Bay Area Counties in between - including San Mateo, Santa Clara, Alameda and Contra Costa Counties.
Trustees assume many duties. Some wanted - some unwanted. Some pleasurable - some painful. Evicting beneficiaries out of trust property is among the most painful duties. The target of the eviction is usually a beneficiary living with their parent at the time of their parent's death.
June is Elder Abuse Awareness Month, and now is as good an opportunity as ever to assess the threat of elder financial exploitation. Let's just say it's staggering - just recently the US Justice Department charged 260 defendants with defrauding over 2 million seniors to the tune of $750 million. It's the "largest single law enforcement action against elder fraud in American history." And it's a wake-up call for the rest of us - so how can we protect our elderly loved ones from financial predators?
Trust beneficiary disputes occur for a host of reasons. And, whatever the reason, it seems that Bay Area trust beneficiary disputes often involve who gets the family home.
If you look through a few of our videos, you'll see that I feel strongly about a number of issues.
"Trust fund babies" is a term that easily evokes mental images of young people unburdened by work or other responsibilities and backed by a secure income. The term itself is somewhat disparaging. It paints with a broad brush.