Estate planning becomes less significant if you have nothing to hand over. Unfortunately for many victims of elderly financial abuse, victims give away the majority of their assets before death making moot the most carefully crafted estate planning. So, you may want to consider having a durable power of attorney for finances to prevent your best drafted will from becoming a useless piece of paper.
An investment advisor wrote in Nasdaq that he had a wealthy client who lost $1.3 million to an Internet scam. The client, who is 80 years old, received a spam email saying that a long lost relative had died without a will and that there was millions of dollars waiting to be collected in some bank in Switzerland. The only catch to collecting the millions?