Estate of Denial news clips (6/20/16)

Financial Abuse by Profiteering Guardians Awaits Aging Boomers and Heirs

Main Street

September 23, 2014

NEW YORK (MainStreet) — In May 2008, Larry Mills filed in Texas to become legal guardian of his then 80-year-old mother, Willie Joe Mills, who’d had a stroke. But by July 2009, Judge William McCulloch in a Harris County probate court appointed a third-party guardian who was also an attorney.

“The guardian put Mama in memory care with dementia people, then he sold her house for $86,000, cashed out $1 million in CDs and put it all in a trust before she was declared incompetent,” said Sherry Johnson, who is one of three of Mills’s adult children. “She never had a trial or due process.”

 

Motorhead Drummer Phil Taylor Snubs His ‘Lost’ Wife in His £1 Million Will

Daily Mail

June 11, 2016

Motorhead drummer Phil Taylor left £1.3 million in his will – but nothing to his secret wife.

Taylor, known to fans as ‘Philthy Animal’, acknowledged the existence of Thera Ann Johnson publicly for the first time in the will, but wrote that they had had ‘no contact… since shortly after the date of our marriage’.

 

Why Inheritors Fire Their Parent’s Financial Advisors

Forbes

June 14, 2016

The largest intergenerational transfer of wealth has already started. According to one projection, about U.S. $41 trillion will be handed over to heirs by 2052. Financial advisors are very likely to lose investable assets when their clients while alive or at death transfer monies to inheritors.

In a survey of 144 heirs who inherited a minimum of U.S. $2 million, 96.5% of them fired the financial advisors that were managing the funds for their parents. There are a number of interrelated reasons for this decision.

 

Caregiver stole $270K from senior’s bank account: police (CAN)

CTV News

June 14, 2016

A woman in her 40s is facing charges after allegedly stealing nearly $270,000 from the bank account of an elderly woman in her care.

RCMP launched an investigation in late April, after a 91-year-old Coquitlam woman reported the incident. She told police that her bank account had been drained of hundreds of thousands of dollars.

 

Stafford woman accused of stealing from uncle’s estate in Manchester applies for special probation (CT)

Journal Inquirer

June 14, 2016

MANCHESTER — A Stafford woman accused of larceny in connection with stealing more than $22,000 from the estate of her late uncle in 2011 and not reporting it to the local probate court has applied for a special probation that can result in erasure of the charge against her.

The woman, Lori Goza, 48, of 395 East St., who is facing a charge of first-degree larceny, a felony, applied for accelerated rehabilitation in Superior Court last Friday. A hearing on her application is scheduled for July 14.

 

Ernie Banks’ caretaker given tentative OK to sell some of legend’s assets (IL)

Chicago Tribune

June 15, 2016

A Cook County judge gave a tentative go-ahead to the longtime caretaker of late Cubs great Ernie Banks to begin selling some of his belongings in an auction.

But Judge James Riley instructed that Banks’ estranged wife, Elizabeth, first be provided a list of the inventory and the sales plan. If the wife doesn’t lodge a challenge, the auction can go forward, the judge said.

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