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American Academy of Estate Planning Attorneys

The American Academy of Estate Planning Attorneys was established in 1992. Mr. Holmgren has been an active member since 1995. Click here to visit his Academy website.

Long Life in Okinawa

Take a moment to watch this video from CNN on the amazing health and long life of Okinawans.

Seinfeld Has An Answer for Everything

In this classic Seinfeld episode, Jerry and Kramer discuss living wills. Although humorous, it makes a great point about the importance of this key document.

 

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Utah's New Domestic Asset Protection Trust (DAPT)

Effective May 2013, the DAPT statute (or DAPT law) provides a powerful way to protect assets from various creditors and especially from lawsuits.

CLICK HERE for full, printable article.

Financial Abuse of the Elderly
Posted on May. 24, 2013

As we age, we become more at risk to undue influence, abuse, and neglect – by some who can profit from our financial resources and other assets.  Cases of abuse are rarely prosecuted as criminal matters – they are rarely reported.  In most communities, people generally don’t know how to report an elder abuse case.  California has recently enacted a law (Welfare & Institutions Code Section 15610.30) designed to address elder financial abuse and to motivate incentivize victims, their families, and even their lawyers to take action.

3GenFam

Simply, a person 65 years or older is an “elder” under California’s law.  Financial abuse occurs when a person assists in or takes real or personal property of an elder for a wrongful use or with the intent to defraud.  Elder financial abuse can also occur when a person uses undue influence to take real or personal property of an elder.

The legislature has opened the door to a wide range of potential monetary remedies.  The abused can seek compensatory damages, punitive damages and possibly treble damages under Civil Code Section 3345, a statute aimed at protecting senior citizens.  Attorneys who assist the victim in obtaining damages, can receive attorneys fees from the abuse perpetrator.  Additionally, if a claim for elder abuse is brought by a conservator, trustee, or other representative of the estate of an elder, he or she may be entitled to double-damages under Probate Code Section 859 in addition to the remedies set forth above.

California has recognized the need to punish those who abuse elders, and its statutory scheme may go a long way to protecting our aging citizens and to redress wrongs committed against them.  Perhaps Utah will address this important issue as well.

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About Randy

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I help clients prepare for their unexpected death or disability. Using legal documents such as Wills, Trusts, Power of Attorney, LLCs and more, we can ensure that your hard-earned assets go to the right people, at the right time, and in the right way–and are managed by someone who is competent, skilled and trustworthy.

I also help clients identify their non-monetary legacy (values, wisdom, principles, beliefs, life experiences, family name and a commitment to certain charitable causes) and how to effectively pass that legacy on to family and others.

Take time to consider the value of your life to others. Don't miss opportunities to leave a greater legacy than just money.

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