REVOCABLE LIVING TRUSTS,LIFE INSURANCE &

ANNUITIES“Financial Exploitation” ?

Donald Akers, Jr.Assistant District Attorney

16th Judicial District of Louisiana

WORLD ELDER ABUSE AWARENESS DAY 2012June 11, Slidell, LA June 13, Acadiana

* * Except for Louisiana Citizens ??

Will

Advanced directive and durable power of attorney for healthcare

Financial power of attorney

Revocable living trust

www.suzeorman.com/igsbase/igstemplate.cfm?SRC=MD012&SRCN=aoedetails&GnavID=84&SnavID=30&TnavID=&AreasofExpertiseID=113

The trust is the owner of the property transferred to the trust and is managed by a trustee for the benefit of a beneficiary

Trusts can be created during life (living trust) or in a will (testamentary trust)

Trusts can be “revocable” or “irrevocable”

Trusts are used for many legitimate & lawful purposes

THE “FREE” LUNCH SEMINAR

Lure Leisurely Senior Citizens who have Time & Assetssuch as Retirement Funds & Real Estate

Provide for Higher returns in low return conventional markets (increased risks!)

“Free” evaluation of your portfolio, accounts & insurance

“Trust Mills” selling living trusts

THE LOCATION & THE SPONSOR “EFFECT”

Assisted Living Complexes

AARP and Senior Group Meetings

Nursing Homes

Retirement Communities

Churches

University Leisure Classes

Revocable Living Trusts: FACT or MYTH

Saves Inheritance & other Taxes

Avoids Probate

Costs & Attorney Fees are less than Wills /Probate

Prevents Freezing of Assets on Death

Protects All Assets

Cannot be Contested

Avoids Public Records Disclosure

Avoids Louisiana Forced Heirship Law…

Independent Insurance AGENT SENTENCED TO 90 DAYS IN JAIL FOR FELONY THEFT conviction, sold complex “indexed” annuity to an 83 year old woman alleged to have shown signs of dementia…

Case Prosecuted under California Elder Protection statute.

Agent alleged the woman “appeared fine and wasn’t confused at the time of the transaction” and that he acted appropriately.

On agent said “There is nothing in insurance –licensing that prepares you as a nonmdedical person to diagnose dementia.”

The company returned principal with interest and no penalties

• Donald D. Akers, Jr.Assistant District Attorney, Elderly Protective Services16th Judicial District of Louisiana300 Iberia Street, Courthouse Suite 200New Iberia, LA 70560-4583Phone: 337-369-4420Direct Ph: 337-365-3886Direct Fax:  337-365-3886

 • Additional Ph: 337-367-8451

Alternate Fax: 337-365-7034email: dakersjr@cox.net

• Website: www.16jda.com