This week a New York Times article , on 93-year-old billionaire media mogul, Sumner Redstone ,offered a lesson on how to avoid financial elder abuse . Redstone may be his own worst enemy, according to the story, setting up a trust that invited ” sweetheart scams” and undue influence, by a cast of accused younger lovers, his daughter and top aides.
An elder law attorney interviewed in the piece, warns that this legal threat is growing all over the world as the populations ages. The rich and famous, like Redstone, Harper Lee , 104-year-old heiress Mrs. Astor , and the bizarre centenarian, Hugette Clark, who made her home in a famous New York Hospital for 20 years and then left her fortune to a nurse and the the hospital foundation – all became fodder scandal media. But each was alleged or proven elderly scams that opened up front page law suits involving uber rich entitled and confused elderly. This brings attention to a huge problem that professionals in aging and care managers see on an increasing basis.