Financial abuse of seniors oftentimes goes unreported. Studies have estimated that as few as 1 in 30 cases are brought to the attention of authorities. There are many reasons why these matters don’t get reported.
The two main reasons for none reporting are:
the abuser is a family member and the victim doesn’t want to get them in trouble
the victim is too embarrassed about being taken advantaged of that they would rather no one know about it than to be humiliated
The first reason, although misguided, is understandable, but second reason, however, is not.
To be direct and word this in no uncertain terms, victims of financial abuse should not feel embarrassed about being tricked out of their money. Today’s criminals who target seniors are smart criminals with hundreds of hours of experience and sophisticated tools that can convince even professionals that they are legitimate in their business dealings.
Encountering today’s scam artist is very similar to seeing a professional magician perform. He has spent countless hours practicing his act, invested in resources and props, and achieved a certain level of competence that earned him his own show. When the audience leaves the performance, they are often left wondering how the tricks were accomplished. They are not, however, embarrassed that they could not figure out how a particular illusion was accomplished. The same should be said about victims of today’s scams.
An example of the skill level of these criminals is seen in a rash of sweepstakes/lottery scams occurring in the Islands today. Potential victims are sent a personalized message (mail, email or telephone) telling them of their good fortune at winning a prize. How did the criminal get this contact information? They spent money getting it. Just like the magician going into a magic shop to buy a deck of marked cards or a collapsible wand, the scam artist can purchase personal information from various sources including people who steal mail; telemarketers who compile information from people who fill out contest entry forms; or computer programs designed to hack email accounts or link addresses to names.
Gone are the misspelled, poorly written emails and letters. These scam artists have learned from past mistakes and perfected their trade. Today’s personalized lottery winning letters are well-written and look legitimate. Some include pre-printed checks that will initially fool even a bank teller into giving a sum of money that is suppose to be sent to the scam artist to pay for “taxes and fees” on the prize money. Other letters include a credit card that the victim is told has the lottery winnings on it and it just needs to be activated with a payment.
So professionally done are these notifications, that some banking personnel, financial planners, lawyers and judges have been fooled by these scams.
In short, if you have been scammed, do not feel embarrassed. You were taken by a professional. Report the crime so that there is a chance these criminal magicians will disappear. All reports are confidential.
To report suspected elder abuse, contact the Elder Abuse Unit at: 808-768-7536.
ElderAbuse@honolulu.gov
www.ElderJusticeHonolulu.com.
A growing portion of my practice involves fixing estate plans prepared over the Internet. The problem with computer-driven estate plans is that in the real world, more often than not, they don’t work. An effective estate plan involves far more than a set of documents, even very well drawn documents that would stand up in any court in the land. For one thing, wouldn’t it be better to have an estate plan that will help you and your family stay out of court altogether? Going to court is not the end of the world, but it can be a royal pain. Most lawyers and judges are good, decent people. But does that mean that your estate plan should provide them with profitable employment? A much better approach is getting your plan right the first time, and then making sure that it continues to work according to your wishes in light of changes in your health, your stuff, the law, and the list of people you trust. If you can accomplish these things without court supervision, you will have reached estate planning nirvana.
While I was growing up, we almost always had a dog (or two) in the house, and they always became treasured family members. You may have had the same experience, and you would not be alone if you have pets today that you consider to be your “children.” I know people who claim to prefer their kitties over their kiddies.
Section 560:7-501 of the Hawai‘i Revised Statutes specifically allows you to create trusts “for the care of one or more domestic or pet animals.” You can even designate a human watchdog who will make sure that your intentions are carried out. In theory, there would be nothing to prevent your terrier’s trustee from making a quick stop at the local dog pound and then pocketing the trust assets that you had intended to be used for your poor pet. However, your 
watchdog could whisk the trustee in front of a judge and make sure the trustee is held accountable for failing to honor your wishes. Of course, if you choose the right caretaker in the first place, none of this will be an issue.
But what if your two-legged children get jealous of your basset hound’s bequest? Is there a way for them to attack your trust? The short answer is “yes,” and if they can convince a judge that you have left “too much” for your toucan, the judge can reduce the amount in the trust to whatever amount is “enough” to provide adequately for the care, maintenance, health and appearance of the designated critter. In any event, if there is anything left when your pooch passes the pearly gates, you get to say where it goes.
Some pets have very long lifespans, such as certain birds, reptiles and fish. Your pet trust will not be subject to the rules that limit the lifespans of conventional trusts, so you can be sure that, as long as the trust assets hold out, there will be provisions for your pet.
When Betty Lau (victim’s name changed) of Kaimuki opened her mail, she could not believe how lucky she was to find out that she won the $3-million Australian Lottery. The official looking letter explained that an unnamed company bought her a ticket as a promotional program and the enclosed Gold Credit Card from VISA contained the prize money. With the plastic card in hand, Betty felt confident this lottery was legitimate. Betty then read that the card had to be activated with a payment in order for her to gain access to the funds she had won. She was told, however, that any funds she paid would be put right back on the credit card. However, after making payment after payment, she received yet another notice that there was one more fee she had to pay in order for her to get access to the money. She had the feeling of playing a slot machine that kept showing “bar” “bar” cherry”— one more spin (or, in this case, payment) and she would win big. For the next three months, Betty sent more than $150,000 in an attempt to activate the card. It was only when she went through her entire savings account that she was forced to stop pursuing this fantasy.