Unconscionable: Financial Exploitation of Elderly Persons with Dementia

Marquette Elder's Advisor, Vol. 9, No. 2, p. 383, 2008

33 Pages Posted: 6 Oct 2008  

Matthew A. Christiansen

affiliation not provided to SSRN

Date Written: May 15, 2008

Abstract

Millions of Americans must deal with the affects of dementia on an elderly family member. Once a person develops dementia it creates an acute potential for financial abuse. This article recounts the real life financial exploitation of Gladys Smith, an elderly woman with dementia. It then analyzes Gladys's estate plan in order to show how her exploitation could have been avoided or mitigated. The article offers four steps to preventing financial exploitation: (1) expecting the worst-case scenarios; (2) advance planning; (3) periodic communication; and (4) creating layers of protection to guard against the worst-case scenarios.

Keywords: elderly, dementia, estate planning, financial exploitation, financial abuse, elder law, trusts, guardianship, power of attorney

Suggested Citation

Christiansen, Matthew A., Unconscionable: Financial Exploitation of Elderly Persons with Dementia (May 15, 2008). Marquette Elder's Advisor, Vol. 9, No. 2, p. 383, 2008. Available at SSRN: https://ssrn.com/abstract=1273313

Matthew A. Christiansen (Contact Author)

affiliation not provided to SSRN ( email )

No Address Available

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