As a person gets older, they may become increasingly vulnerable to financial abuse. Elder financial abuse perpetrators come in all shapes and sizes. They could be family members, friends, neighbors, people who work with or around an elderly individual or strangers.
Using estate planning for elder financial abuse protection
Promotions and estate planning
One of the more exciting bits of news a person can get at work is that they got a promotion. This can be a big thing for a person, financially and professionally. It is important though for individuals to not let the excitement of getting promoted cause them to miss the fact that there could be some important legal issues to address in connection to their promotion. For example, a promotion could end up necessitating an update of one's estate plan, as there are a variety of estate planning concerns a promotion could trigger.
Estate planning and FDIC protection for bank accounts
After years of working hard to build up their assets, an elderly individual may care greatly about keeping their assets safe. Unfortunately, there are a variety of things that could create serious asset depletion risks for seniors.
Compiling an inventory one of the personal representative's tasks
Being a personal representative of a person's estate is no minor thing. It is an important role and there are many different tasks that go along with holding this role.
Privacy concerns and estate planning
How one's assets are distributed after death can be an incredibly personal thing. Thus, the details of such distributions are something an individual may want kept out of the public eye after their death. Consequently, privacy is one of the big estate planning concerns an individual may have.
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