The heartbreaking story of a retired therapist who lost nearly $600,000 to an elaborate scam underscores the need for asset protection strategies to safeguard seniors from increasingly sophisticated financial fraud schemes.
Warren Buffett emphasizes transparency in estate planning, urging families to discuss wills before signing. Open conversations prevent misunderstandings, clarify roles and strengthen bonds.
Many individuals, even those with significant assets, are negligent in establishing a comprehensive estate plan. A will, although necessary, is not sufficient.
Though ‘estate planning’ may bring to mind visions of rich families squabbling over the ancestral silver, it isn't just for the wealthy or older people, financial planners say.
In an elder abuse horror story, a young woman spends $71,000 belonging to her uncle with dementia. Proper estate planning can safeguard your assets in the face of cognitive decline.