Probate Lawyer Blog: “Annual financial loss by victims of elder financial abuse is estimated to be at least $2.6 billion dollars according to a recent combined study from MetLife Mature Market Institute (MMI), The National Committee for the Prevention of Elder Abuse (NCPEA), The Center for Gerontology at Virginia Polytechnic Institute and State University report entitled, “Broken Trust: Elders, Family and Finances”. It is vitally important for attorneys and any persons who help the elderly with their finances which could be Financial Planners, Accountants, Insurance Agents, etc. to be educated about fraud and financial ethics when it comes to family financial fraud. Often times, it may only be the client’s attorney or financial advisor who can uncover and reveal financial abuse that can be occurring within a client’s trusted relationship.”
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