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R. Craig HarrisonLyons, Beaudry & Harrison, P.A.1605 Main Street, Ste. 1111Sarasota, FloridaFlorida Board Certified:Wills, Trusts and Estates Copyright ©2015 by R. Craig Harrison, Lyons, Beaudry & Harrison, P.A. Prepared for Guardianship Intensive Program, March 27, 2015 Protecting the Elderly from Financial ExploitationAnd The Newly Revised Exploitation Statute I.Protecting the Elderly from Financial Exploitation: The… Read More »
A power of attorney (POA) document authorizes a person to act on another’s behalf in private affairs, business matters or any other legal matter specified in the document. The “principal” is the person who authorized someone else to act on their behalf. The “agent” is the person who is given the power to act on… Read More »
When developing and signing estate documents, it is imperative that you are clear in your wishes. Otherwise, after you have passed, your heirs may dispute your decisions. Going to court to settle an estate is time-consuming, stressful and emotionally draining. You don’t want your family torn apart from fighting over your assets after you have… Read More »
Sadly, many people believe that seniors are easy targets for financial exploitation. In a survey taken by Allianz Life Insurance Co. of 2,000 adults, the senior participants reported losing an average of $30,000, while some reported losing more than $100,000. The most common financial scam against seniors is something called “grandparent scams.” In a grandparent… Read More »
Being named the guardian of an incapacitated person is a huge responsibility. The guardian must be diligent about matters concerning their ward’s finances and healthcare. If you feel as though the appointed guardian of your loved one is not fulfilling their duties, you may have to turn to litigation. You can present to the court… Read More »
As the name implies, a successor trustee is a trusted individual who handles the duties connected with your revocable trust in the event you lose capacity during your lifetime, and settles all remaining issues after you die. As such, your first impulse might be to name your spouse, one of your adult children or a… Read More »
Trusts: TBE or not TBE Florida favors married couples holding their property as tenants by the entireties (TBE). Probate is avoided as the property passes to the surviving spouse by operation of law. Further, the tenancy provides creditor protection. In essence, the TBE property belongs to neither individual spouse, but both are collectively seized in… Read More »
Assuming every asset under your sole control is held in trust, it is possible for your heirs to avoid probate. Similarly, certain jointly owned assets are protected from probate, such as a home titled to you and your spouse with the right to survivorship. However, since most people do not have every asset protected, some… Read More »
Protecting the Elderly from Financial Exploitation: The Dilemma and Solution According to the Alzheimer’s Association, there are approximately five (5) million Americans who have some type of dementia. Close to 50% of all people over the age of 85 have Alzheimer’s disease or another kind of dementia. Diminished capacity is more prevalent… Read More »
Concerns about physical abuse and neglect are a primary reason that many people choose in-home care for their elderly loved ones. Unfortunately, even recipients of in-home care can still experience forms of abuse — and financial abuse may be most prevalent in these situations. By setting up an effective estate plan in your younger years,… Read More »
