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Elder Law Office of David Wingate, LLC

Posts Tagged ‘financial exploitation’

The Office of Older Americans

The Office of Older Americans was created as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. It was created to safeguard the rights of those over 62 and ensure they are properly educated about their financial options. Assistance in these and similar matters is all the more important now in a world with stagnant retirement accounts and rising healthcare costs. MetLife found that older Americans lost $3 billion from exploitation in 2010 alone. The rising senior population only means that the total cost of senior financial abuse will likely increase in the future. Tackling financial exploitation often…

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Beware of Financial Exploitation.

 Forbes.com notes the circumstances surrounding Anna Nicole Smith and her protracted legal siege as an example of what not to do. 2010 marked the fifteenth year of fighting, and the Supreme Court’s ruling that it will hear her case once more, of whether or not her late 90-year-old husband left his estate to her. Some allege the young model was financially exploiting her (wealthy) elderly husband. This year the first of the baby boomers will turn 65, along with approximately 2.5 million of their peers. Exploitation of those 65 and older is a growing epidemic: a study by Met Life…

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