Lessons from celebrity-estate planning cases for advisors.
Celebrity Estates: Richard Pryor's Elder AbuseCelebrity Estates: Richard Pryor's Elder Abuse
Advisors are in a unique position to spot the red flags.
In this episode, David Lenok, senior editor at WealthManagement.com, is joined again by Vivian Lee Thoreen of Holland & Knight.
The celebrity example in this episode is Vivian's client Richard Pryor, an American actor, writer, and one of the most influential standup comedians of all time. Richard was married five times and fathered seven children with six women. He was open about his personal demons with drugs and alcohol and, on top of all this, Richard had multiple sclerosis.
All of these factors swirled into a perfect storm for a tragic case of elder abuse.
Now, Vivian and David reveal the signs of elder abuse for every advisor to watch out for. They explain why advisors are in a unique position to see red flags and what actions to take if you suspect your client is being abused.
Richard Pryor in 1982.
In this episode, you will learn:
What red flags might indicate that your client is a victim of elder abuse;
Giving gifts to a caregiver: Is there a right way for your client to do this?
How advisors are protected when filing an elder abuse report;
What is meant by conservatorship and whether your client can have more than one;
And more!
Richard Pryor with wife Jennifer and daughter Rain in 2000.
Learn how to help your clients protect themselves and their families. Communication is key!
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