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YOU!
That’s right. You’re picking up the tab – Mr. and Mrs. Taxpayer!
Our grandparents and parents are from a generation of savers; people who worked hard, sacrificed, and saved every possible penny for their golden years – and for their children. While not all wealthy, they have amassed enough funds to see them through their lifetime, with hopes and dreams of travel, spending time with family and friends, or pursuing new interests.
When the guardian/conservator has picked the Ward’s financial bones, the Ward becomes a public charge, on Medicaid, for the remainder of his/her life.
In other words, the guardian and other fiduciaries pauperize the Ward and then leave the Taxpayers holding the bag while those fiduciaries are working with their headhunters to find new victims.
No one knows how many billions of dollars this “welfare racket” for unethical guardians and other fiduciaries costs the Taxpayers. If anyone is keeping track, no one has been concerned enough to end it – until now!
Not even the IRS. The NY Post’s article “Judge Money Melee Guardians Lax on Tax” reports retired Judge John Phillips’ two former guardians failed to file his tax returns for five years, running up a million dollar tax bill against his former ten million dollar-plus estate. Why? Because they wanted their share first! Judge Phillips, thanks to his court-appointed “protectors,” only has a few hundred thousand dollars left and he’s in pretty good health. So, who’s going to pick up the tab for his care when they finish picking his financial bones? The guardian? The guardian’s attorney? No way! You are!
See Also:
The Kung Fu Judge
Stop Guardian Abuse – Who Else is Paying the Price?
“If an elderly loved one needs a conservator you need to understand how much they are spending. Be watchful of the costs, access to bank accounts or personal items the conservator might have – so that they are not taking things they should not, or influencing the writing of a Will.”
National Association to Stop Guardian Abuse 