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- Title
ALL IN THE FAMILY: PROVING THE CASE OF FINANCIAL EXPLOITATION IN NORTH DAKOTA'S AGEING POPULATION.
- Authors
Schmidt, Samantha
- Abstract
Ten thousand Americans turn 65-years-old every day in the United States. Seventy percent of the nation's wealth is concentrated in those born before 1965. In no place are those numbers more evident than North Dakota which boasts the 12th highest proportional number of seniors in the nation. The rise of baby boomers entering retirement age coupled with their relative wealth creates a perfect storm for financial exploitation-and not just by scammers and everyday thieves-but rather by family members who use undue influence, coercion, and deception to gain their inheritance early. By doing so they injure not only their elderly victims, but also North Dakota communities who must then provide for the needs of victims whose hard-earned savings have gone to the coffers of an abuser. North Dakota attorneys must know the warning signs of family financial exploitation. This knowledge is vital whether a prosecutor is considering a charge of exploitation, or a private attorney is assisting an elder in estate planning. In both instances, family dynamics play an integral role in shaping the approach attorneys take to advance their clients' legal interests. Both types of attorneys can assist in addressing family financial exploitation. Improving the prosecutorial process by collaborating with multiple disciplines can lead to meaningful convictions, while private attorneys can employ tools to protect elder assets and engage in litigation to combat the ramifications of undiscovered exploitation. Responding to this perfect storm will take knowledge, understanding, and foresight, yet the stakes could never be higher. Our elders deserve protection and their perpetrators deserve justice. North Dakota attorneys must be at the forefront of the fight to ensure its elders age with dignity, respect, and their financial assets fully intact.
- Subjects
NORTH Dakota; FINANCIAL abuse of older people; FAMILY relationships of older people; POPULATION aging; BABY boomer retirement
- Publication
North Dakota Law Review, 2021, Vol 96, Issue 3, p407
- ISSN
0029-2745
- Publication type
Article