Asset Rich and "Old"- a guide to Dirty Conservatorships/Guardians
I am in the process of updating my financial affairs and came across this subject on the internet, which led me to this book. I borrowed it from the library and picked up a copy of my own.
Has anyone here had experience with others trying to take control of their finances? If so, what changes did you make that will protect you or your loved ones from this type of abuse?
"The financial affairs of perhaps as many as a million and a half aging adult Americans now are being managed against their wishes by court-appointed guardians or conservators. These people are not mentally ill, and they are not incompetent. But they are asset-rich and "old."
In the aggregate, senior Americans now possess unprecedented wealth and are living far longer than might have been expected even a couple of decades ago (mortality tables developed even in the 1960s are of limited use today). Not surprisingly, these circumstances have in some instances led to disappointment for expectant heirs and other beneficiaries of estates who may have "counted their chickens before they hatched." The problem addressed by Dr. Diane Armstrong's THE RETIREMENT NIGHTMARE" is that increasing numbers of such interested parties are using outmoded legal statutes to deprive even competent elders of control over their own financial and other affairs."
A link that might be useful: