Brooke Astor's Grandson Fights Against Elder Abuse

Philip C. Marshall went to court to protect his wealthy socialite grandmother from being financially exploited by her own son. His crusade continues today.

Philip C. Marshall, grandson of Brooke Astor and founder of Beyond Brooke. Courtesy Financial Advisor Magazine, Alec Marshall

 

By Eleanor Laise, Senior Editor 

September 26, 2018

 
From Kiplinger's Retirement Report

The 2009 trial of Anthony Marshall, son of New York philanthropist Brooke Astor, brought nationwide attention to the issue of elder abuse. Marshall was found guilty of stealing millions of dollars from his mother and, along with a lawyer, fraudulently changing her will. Astor’s grandson Philip C. Marshall filed a guardianship petition in 2006 seeking to protect his grandmother—and today, years after the deaths of his father and grandmother, he continues to campaign against the financial exploitation of seniors. In this edited conversation, Marshall speaks with Senior Editor Eleanor Laise about how seniors and their loved ones can recognize and combat abuse.

Based on your experience, what are the key elder-abuse red flags that family members and friends should watch for?

Isolation of seniors is one of the biggest red flags. If a senior is isolated, that sets the stage for potential perpetrators to come in. Old friends vanishing, new friends—in quotes—showing up. This is what happened with my grandmother. New lawyer, new accountant, new best friend. All should signal possible warning signs.

In your case, combating the abuse meant testifying against your father. What’s your advice to people who suspect their close relatives are the perpetrators?

My inbox and my voice mail are full of people who are desperately trying to figure out what to do. Yes, there’s a huge angst about addressing abuse with a family member you’ve had a lifetime relationship with. But the angst is really among people who say, ‘I’ve gone to law enforcement and Adult Protective Services, and they say this is a family affair or a civil matter.’

Very typically elder abuse is criminal and needs to be treated as such. That’s one of the things that came out of my grandmother’s case: It wasn’t just a battle of the bluebloods—it was criminal.

You have founded an organization, Beyond Brooke, which seeks to provide elder-abuse education and empower seniors. What do you tell seniors about how to protect themselves against financial abuse? 

It’s back to engaging in relationships and making sure you’ve got people in your life who will watch your back. It sometimes takes just one person or three or five people in your life who are checking in—and cultivating those relationships.

Seniors are often encouraged to designate a power of attorney to carry out their wishes if they become incapacitated. Yet this can also open the door to elder abuse. What’s your advice on designating a power of attorney? 

I filed for guardianship because my father had power of attorney for his mother, which he was using as a weapon and a shield. I would say have two agents, for starters. It’s a check and balance system. And one could be a professional. If folks happen to have a trust or two, make sure there’s a professional fiduciary as a trustee, so you’ve got this check and balance.

There’s so much power of attorney abuse. And as a reminder, power of attorney abuse is criminal. People are being told it’s a civil issue, and that’s not true.

Your grandmother was abused while she was suffering from Alzheimer’s disease. What should be done to protect people with dementia from elder abuse? 

That’s where folks in the financial industry and in health care need to talk. When someone has mild cognitive impairment, they’re potentially still able to do financial [tasks] and have testamentary capacity. But there’s this huge grey zone between mild cognitive impairment and advanced Alzheimer’s. It’s really difficult to figure out when to act.

There are three things we usually don’t like talking about: health, wealth and death. And perpetrators know this is to their advantage. So we have to throw these right on the table. Generally speaking, people are relieved when their families talk about these critical issues.

Full Article & Source:
Brooke Astor's Grandson Fights Against Elder Abuse

See Also:
From Whistle-Blower To Elder Champion

Too Sick for Court?

Brooke Astor heir Anthony Marshall leaves sons out of his will; millions will go to second wife and her children

Brooke Astor's Lasting Legacy

Settlement Reached in Brooke Astor Estate Battle

Astor's Son Found Guilty

From Whistle-Blower To Elder Champion

Brooke Astor, the New York philanthropist, socialite and writer, wanted to leave her family fortune to charity as her legacy. She did that. But she has also touched the lives of many elderly people through the work of her grandson, Philip Marshall.

Marshall is using his experience in protecting his grandmother from abuse to help lead a crusade to protect all older people from financial exploitation, abuse and neglect. To do that, Marshall first had to confront his own father, Anthony Marshall, Brooke Astor’s son.

Thanks to Philip, who prompted one of the most well-known court cases involving elder financial abuse in U.S. history, Brooke Astor will go down not only as a patron of the arts and a philanthropist, but as a lead player in the fight for elder justice. That fight, which began on a very personal level, now has Marshall spearheading a movement more national in scope as he fights to protect vulnerable elderly people. And he says financial advisors and institutions like banks have a crucial and lead role to play in that fight.

Patrick T. Harker, president and chief executive officer of the Federal Reserve Bank of Philadelphia, says financial exploitation of older Americans affects families, society and the overall economy. As the population ages and more retirees rely on their own personal savings and investments, elder fraud has the potential of becoming a full-blown national crisis.

Part of the problem with tackling elder financial abuse is that the size of the problem is not even known, Harker says. Also, many questions remain about how the brain ages and who is susceptible to cognitive decline. Estimates of the cost of financial abuse range from $3 billion a year to $36 billion, he says, and even those figures don’t take the social costs into account.

One of the major causes of cognitive decline is Alzheimer’s disease. Approximately 5 million Americans have the disease today, a figure that is expected to rise to 14 million by 2050, according to Patricia Boyle, a researcher at the Rush University Medical Center. Financial decision-making is often one of the first areas impacted by cognitive decline, she says.

Cognitive decline and elder financial exploitation and abuse are also issues that have to be addressed by financial regulators and the financial industry, as well as the medical, social and legal industries.

Philip Marshall, who is now 64 and lives in South Dartmouth, Mass., will relate his grandmother’s story to almost anyone if he thinks it will help the cause, and he recently told the story to Financial Advisor magazine.

He has been at it long enough that he talks in sound bites, but he is never glib. This is serious to him and to a growing number of other people.  (Click to Continue)

Full Article & Source:
From Whistle-Blower To Elder Champion

See Also:
Too Sick for Court?

Brooke Astor heir Anthony Marshall leaves sons out of his will; millions will go to second wife and her children

Brooke Astor's Lasting Legacy

Settlement Reached in Brooke Astor Estate Battle

Astor's Son Found Guilty