Feb 12, 2010

Caregiver and Crook

As I've reported before, financial abuse of seniors is on the rise. Now we've got another high-profile case, right here in our backyard. Boca Raton resident Charlotte Koufman, 88 and suffering from dementia for many years, was cared for by her adult son for several years. Authorities now allege he was as much crook as caregiver, looting her assets following his relocation to Florida to care for her. Her trust, which was to be used for her benefit, contained $2.15 million in 2004, but was nearly halved after her son gained control of the purse strings. His "caregiving" supposedly included purchasing a posh, half-million-dollar condo for himself and a fancy car, too. Read more here.

Thank goodness, the vast majority of family member/caregivers are compassionate and not crooked! Nonetheless, it's wise to be proactive. Putting the proper legal structure in place to protect yourself can do a lot for your peace of mind.

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