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April 2013 Archives

Appointed Jacksonville attorney accused of elderly exploitation

A Jacksonville attorney has been accused of misusing over $100,000 in funds belonging to older individuals. In a story that illustrates the need for people to have a quality estate plan, an attorney who was appointed as guardian for several elderly residents of Jacksonville allegedly transferred funds between different accounts, and used some for her own benefit and that of her friends.

Florida woman party to trust suit against Fifth Third Bank

The daughter of the former Chief Executive Officer of Proctor and Gamble is party to a suit against Fifth Third Bank for breach of fiduciary duty. The Naples woman joins a brother in another state in a suit alleging that Fifth Third, as trustee of their mother's trust, improperly gave money to a third brother.

3 March Madness lessons about retirement income

Many Floridians were glued to their televisions this year to watch the NCAA men's basketball tournament. The participation of three schools from Florida, and especially the surprising success of Florida Gulfcoast University kept interest high. Now that it's over, though, residents in West Palm Beach and around the state can take away a few important life lessons from the tournament, such as strategies to help their retirement income.

Florida hospice administrator speaks about healthcare proxy

The administrator of Haven Hospice spoke to the Columbia County Commission, and announced a "National Healthcare Decisions Day." The administrator issued a challenge to all Floridians to execute a healthcare proxy and choose a surrogate.

Estate planning tools like powers of attorney can be abused

Because of the large number of retirees in Florida, issues affecting estate planning and the defrauding of older people are of great importance in the state. While planning tools such as powers of attorney are important and commonly used by people attempting to conserve their wealth and ensure their wishes are followed, these tools can also be an avenue of abuse. According to a MetLife study, approximately a third of all elder financial abuse cases involve family members, neighbors or friends. Many of these cases can involve a power of attorney.