Monday, July 14, 2014
Kristen M. Lewis (Smith, Gambrell & Russell, LLP) recently published an article entitled, Financial Abuse of Elders, Probate & Property, Vol. 28 No. 4, 11-15 (July/August 2014). Provided below is the article’s introduction:
Elder financial abuse (EFA) is a societal blight resulting in estimated losses to victims of $2.9 billion annually. Attorneys who advise elders and other at-risk adults must strive to recognize their clients’ risk for EFA and endeavor to design protective estate plans that will help prevent it. Victims of EFA include a pro bono client living alone in her government-subsidized studio apartment and Brooke Astor in her opulent Park Avenue home surrounded by family members. Studies have shown that one of every six adults over the age of 65 has been a victim of EFA, and that women are twice as likely as men to be victims. Nationally, 30% of adults with disabilities who use personal assistance services report one or more types of abuse by their primary care provider.