* Recognize clients’ vulnerability to financial exploitation and investment fraud due to mild cognitive impairment,
* Identify elder investment fraud and financial exploitation in their clients.
* Reported suspected instances of elder investment fraud and financial exploitation to appropriate authorities.
“We know that a shockingly large number of older Americans are already victims of financial swindles, and millions more are in danger of being exploited in such a fashion,” said Don Blandin, chief executive of the Investor Protection Trust, a nonprofit organization that conducts investor education. “Front-line legal professionals who deal everyday with older Americans are ideally positioned to spot the impaired mental capacity that can leave seniors vulnerable to financial abuse.”
While lawyers work closely with the finances of seniors, they aren’t properly trained in how to spot signs of financial exploitation, said Charles Sabatino, director of the ABA’s Commission on Law and Aging.
“This project directly benefits the legal profession and the older clients whom they represent,” he said.
Full Article and Source:
Three Groups Join Forces to Teach Lawyers How to Spot Financial Exploitation in Elderly Clients
Lawyer's need to be taught to recognize financial exploitation?
ReplyDeleteHow did they pass the Bar?
Whose interests does the IPT server? To answer this, you might want to consider the following fact copied from IPT's own website (http://www.investorprotection.org/ipt-activities/?fa=about): IPT was "Founded in 1993 as part of a multi-state settlement to resolve charges of misconduct" Meanwhile, on a more personal level, I have reached out to IPT in my effort to bring about needed legal reforms. Want to know more? E-mail me at tvfields@oh.rr.com
ReplyDeleteWonderful! Now the ABA just needs to focus on financial exploitation of the elderly and disabled BY LAWYERS.
ReplyDeleteExamples include overcharging in hours and hourly amount of fees, thousands of dollars of fees for no apparent result or progress, hand-picking an unethical crony as guardian ad litem "for" an incapacitated person, misinforming the judge as to the facts and law, unquestioningly dolling out fees from the incapacitated person's estate and trust to lawyers who represent an adverse party, not the client, and raiding the special needs trusts of incapacitated people, some of whom have severe unmet medical and dental needs, for thousands and even tens of thousands of unearned dollars, all while selling the best interests of the elderly or disabled "client" down the river.
You can start with Jewish Family Service of Tidewater, Colleen T. Dickerson, Esquire, Gregory M. Pomije, Esquire, and Clara P. Swanson, Esquire. Just turn over a rock, and see what slime crawls out in every direction.
People from the ABA, including Erica Wood, know about these problems. What are they doing to fix them?
Lawyers already know all about financial exploitation of all ages; they're experts at it.
ReplyDelete