Protect Your Aging Loved Ones From Undue Influence
Following the passing of a loved one, it can be shocking to discover that their inheritance plans differ significantly from what was expected, favoring individuals they recently met over close family members. In some cases, this could indicate exploitation known as "undue influence"—an unethical and illegal form of elder abuse. With the aging population and substantial wealth among Baby Boomers, instances of undue influence are likely to rise.
Understanding Undue Influence
Undue influence occurs when someone exploits their position of power or trust to manipulate another person into making decisions they wouldn't otherwise make. This often involves emotional manipulation, threats, isolation, or deceptive tactics. The perpetrator could be a family member, caregiver, advisor, or even a new acquaintance.
In estate planning, undue influence often manifests during the creation or revision of wills, trusts, or other legal documents. For example, a family member might coerce an elderly relative into altering their will to increase their inheritance while diminishing others'.
Real-Life Example of Undue Influence
Consider a case where an elderly father, in poor health, was persuaded by his live-in daughter to provide her $8,000 monthly, citing care responsibilities and isolating him from other family members. Upon his death, it was revealed that she had influenced him to leave her the family home, stocks, and bank accounts in his will. Although a jury acknowledged undue influence, they determined the father still intended to provide for his daughter, leading to a compromise among all children.
Identifying Red Flags
Undue influence can be challenging to detect as it often occurs discreetly. Here are common warning signs to watch for:
Isolation: Preventing the victim from communicating with family or friends.
Control of Information: Withholding important documents or financial information from others.
New Relationships: Encouraging financial gifts or estate planning changes benefiting recently formed connections.
Inappropriate Advisors: Allowing a new acquaintance to assume significant roles like power of attorney or estate executor.
Unusual Estate Planning Changes: Sudden alterations to estate plans without logical explanation or previous patterns.
Responding Proactively
To safeguard elderly loved ones from undue influence, maintain open communication about their estate plans and ensure they work with experienced legal counsel. Establishing tools like revocable living trusts and power of attorney documents can empower trusted family members to intervene if necessary, avoiding court interventions.
Taking Action
If you suspect undue influence, swift action is crucial. Delay can result in irreversible financial harm or inappropriate living conditions for vulnerable seniors. Early intervention can mitigate risks and protect their well-being.
Planning Ahead
Encourage proactive estate planning discussions with aging parents or relatives. These conversations can clarify intentions and preferences, preempting potential disputes or manipulation. Explore incapacity planning options tailored to their specific needs and family dynamics to ensure comprehensive protection.
To learn more about protecting your loved ones from undue influence, schedule a consultation with us. We specialize in creating personalized estate plans that prioritize your family's security and ensure their wishes are honored. Take proactive steps today to safeguard your family's future and peace of mind.
This article is a service of Zarda Law, S.C. We do not just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Life and Legacy Planning Session™, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by scheduling a Life and Legacy Planning Session and mention this article to find out how to get this $750 session at no charge.
