Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Friday, May 29, 2015

Advisors Should Forge Ties With Heirs Of Elderly Clients

RetirementWith the elderly population expected to grow in the future it would be good practice for financial planners to include the client’s heirs in the decision making process.  An increasing number of senior citizens are going to face issues of diminished capacity, which will make them more vulnerable to financial scams that could decimate their wealth.  It is important to forge ties with a client’s family and have a plan in place in the event that a client starts to lose mental capacity.  Financial planners should create a senior-specific program to help them advise elderly investors.

See Kenneth Corbin, With Elderly Clients, Advisers Must Involve Heirs, Financial Planning, May 28, 2015.

Special thanks to Jim Hillhouse for bringing this article to my attention.   

https://lawprofessors.typepad.com/trusts_estates_prof/2015/05/advisors-should-forge-ties-with-heirs-of-elderly-clients.html

Elder Law, Estate Planning - Generally | Permalink

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