Evil People Target the Greatest Generation
The “Greatest Generation,” that is, individuals who reached adulthood between the start of the Great Depression (1929) through the end of World War II (1945), are now considered as “the greatest generation to exploit.”
The following excerpts are from Lou Ann Anderson, Where Looters, Poachers Stalk Prey, The Conservative Voice, July 13, 2008:
The assets of older Americans are being looted via actions in which probate instruments such as powers of attorney, wills, trusts or guardianships are used to gain control of property. These actions evolve into an Involuntary Redistribution of Assets (IRA) as ultimate financial resource distribution becomes contrary to the asset owner’s intentions. * * *
Because the pool of those willing to exploit the elderly is endless, it is important to be aware of places and venues where today’s predators search for potential victims. The list might be surprising, but remember: the guise of community respectability, professional credibility, even enhanced morality or religiosity can be important entry points into the life of a predator’s next mark. With that, here is our list of where the looters and the poachers stalk prey:
- Senior centers
- Government-sponsored lectures (especially through departments/agencies specializing in eldercare, aging)
- Civic groups (Kiwanis, Rotary, etc.)
- Churches, synagogues
- Retirement communities, homeowners’ associations
- Support groups (church-sponsored and otherwise)
- Medical facilities, nursing homes, assisted living facilities
- Estate planning seminars, sales presentations (beware ‘free food’ ploys)
- Consultations with ‘professionals’ (lawyers, caregivers, accountants, social workers, etc.)
- Any places that cater to an older clientele (gyms, dance clubs, libraries, restaurants, etc.) * * *
IRA predators are a fact of today’s life. Due to the wealth transfer getting ready to occur in the next 20 or so years, Involuntary Redistribution of Assets actions will likely skyrocket. People think proper estate planning will protect them — wrong! People think they don’t have enough assets to be a target — wrong!! There is no inoculation from the threat of IRA. There is no avoidance of being a potential target. This information is not offered as a broad-based indictment of all organizations and entities, but awareness should exist on the part of those hosting and attending community events. Knowledge of today’s predatory landscape and recognition of the places haunted by asset looters and property poachers will provide an upper hand. And as forewarned is forearmed – stay alert!
It is likely the Ms. Anderson’s indictment of organizations and individuals who generally have their members/clients best interests in mind is overstated. Nonetheless, it is important for everyone to make certain they are getting sound advice from organizations and individuals who are really “on their side.”
Special thanks to David S. Luber (Attorney at law, Florida Probate Attorney Wills and Estates Law Firm) for bringing this article to my attention.