The incredible story of an Oregon woman named Erna Boldt as reported by Salem-News.com is a classic Involuntary Redistribution of Assets (IRA) case as a trust was used to divert Mrs. Boldt’s assets in a manner contrary to her stated intentions.  Mrs. Boldt acknowledges that upon her death, her son, California investment banker Leroy Newton, was to receive half her estate.  In response, however, Newton created his own trust and began transferring his mother’s assets into the trust thus converting Mrs. Boldt’s property into his own — prior to her death and against her wishes!

Mrs. Boldt appealed the trust creation and won in a Clackamas County court, but the court documents were never filed due to “administrative neglect.”  This oversight allowed a window of opportunity in which Leroy Newton completed the takeover of his mother’s estate.

Mistakes happen and incompetence is flourishing in today’s Third World America.  Maybe that’s what happened here, but then again, maybe not.  The “accidental” mishandling of Mrs. Boldt’s documents effectively thwarted her court victory.  Pressure exerted on or cash offered to the right person can be influential.  When theft (or abetting theft) can be accomplished without getting one’s hands “dirty” and through seemingly innocuous administrative tasks as simple as changing terms of a signed document or “misplacing” important papers, accomplices become easier to find.  The truth will likely never be known, but why not consider all the possibilities?

Upon discovery of this “oversight,” Mrs. Boldt went back to court where incredibly the previous and favorable ruling was not upheld and instead, a trustee was assigned to oversee her assets despite Mrs. Boldt not being considered incompetent.  (See prior paragraph.)

This case is ongoing today.  Per the article, Leroy Newton continues efforts to strip his mother of her assets while Erna Boldt says she’ll continue to fight for her property rights.

The legal industry can always tout the importance of “proper estate planning,” but the reality is that when IRA perpetrators see an opening, all the estate planning in the world can make absolutely no difference. Having an estate plan is important, but people need to understand that, in today’s world, an unscrupulous attorney might one day use it to circumvent your wishes and divert your assets.  And recourse via the court system, as shown in Mrs. Boldt’s case, is far from a straightforward, honest process.   It sometimes is nothing but an opportunity to generate legal bills!

From Oregon to Texas, Connecticut to Florida, Americans of all financial means are learning the dangerous threat posed to their property through abusing probate systems and instruments.  EstateofDenial.com wishes we had an answer on how to avoid estate looting, but we don’t and until the corrupt culture surrounding the legal industry is addressed, we won’t.

We don’t have to work hard to find these stories.  They happen every day.  They’re happening to people we know, they’re happening to people you know.  Sadly, your turn may be next.