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Estate planning to prevent financial exploitation

As we age, it is a sad truth that we draw the attention of people looking to take advantage. Older Americans are heavily targeted by individuals and groups looking to defraud them of the assets they've accumulated over a lifetime. An elderly person who is not in full control of their financial situation could find themselves destitute in a matter of months.

Financial abuse of the elderly is common

Seniors should always be on the lookout for signs that they are being exploited. Estate planning helps people gain a full understanding of their present and future financial situation. Armed with that understanding, a person is less likely to fall victim to people looking to steal from them. By having an estate plan and meeting with an attorney twice yearly to discuss it, older Americans and their families can detect fraud more quickly and put a stop to it before it's too late.

Trustees and estate administrators are held to a high standard of care for the beneficiaries they serve. The fiduciary duty created by a trust requires that the trustee always act in the best interests of the principal. The failure to do so exposes the trustee to serious legal problems. One of the many benefits of a trust is that a person's assets are secured by a professional, legal relationship. They are an excellent tool for protecting assets from many potential threats, including the threat of financial fraud. With the addition of a co-trustee, elderly individuals are largely protected from trust abuse.

In some cases, the aging process will leave a person unable to manage their own financial decisions. There are estate planning tools available to help secure a vulnerable person's position when the time comes. Work with an estate planning professional to ensure that fraud will not wipe out your loved one's assets.

 

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  • I wanted to write to say how pleased my wife and I were at your professional handling of our estate planning and preparation of new wills. We were put at ease by your visit to our home for an interview and were pleased that you listened to us and captured the things that we felt were important.

    --Robert and Christine Simonson, Fairport
  • In order to finalize the documents we came to your office and were greeted in a very professional manner and we could not have asked for finer service. We left with copies of everything we needed and feel very confident our needs have been met. Thanks again. We will surely recommend you should the opportunity arise.

    — Christine and Robert Simonson, Fairport
  • I have been working with Weinstein & Randisi for about two years now. Elizabeth Randisi, through a very thorough process, has helped my wife and me determine what is really important in our lives. Thus, we were able to draft a living will that reflected our most important values regarding our estate.

    --David and Ajia Cherry, Fairport
  • I would like to give a testimony for Elizabeth Randisi, an estate attorney with Weinstein & Randisi. Her knowledge of wills and estate planning was clearly demonstrated in her presentation to us. Realizing our need for a will, my husband and I went to see Elizabeth.

    --Kathy and Gary Gray, Webster
  • Filing for Medicaid is never an easy or fun process. However, working with the Weinstein & Randisi firm made the process simple and streamlined. We were able to obtain all files and records regarding Medicaid enrollment within a few days using specially prepared checklists and verbiage recommended by our assigned paralegal.

    --Ajia and David Cherry, Fairport
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Weinstein & Randisi - estate planning

290 Linden Oaks, Ste. 200
Rochester, NY 14625

Toll Free: 800-768-1780
Phone: 585-310-1578
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