Protect yourself now against elder financial ripoffs
Posted by Brent Hunsberger, The Oregonian
September 05, 2009
You've likely heard about Evelyn Roth.
The 83-year-old recovered from severe medical complications to find a cousin and niece had sold off her home and raided her bank accounts, even prepaying her funeral.
It might seem like an extreme case. But to estate planning attorneys and professional fiduciaries, it's all too familiar.
"I could write a book," said Mary Hansen, president of the Guardian/Conservator Association of Oregon and a longtime court-appointed manager of vulnerable people's finances.
There's Clara Philpot, who suffers Alzheimer's disease, facing foreclosure on a house in Molalla she once owned free and clear. Her daughter directed her to use the home as collateral to buy a $1 million home deeded to both of them, a jury found.
There's Warren Cummins' favorite charity and adopted kids. They're out hundreds of thousands of dollars after live-in caregiver Patricia McIntosh convinced the late 91-year-old retired accountant to leave his entire $1 million estate to her.
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