Quote:
Originally Posted by firemediceric
I am not a fiduciary.
I can tell you that the system is set up to quickly drain the assets of the incapacitated right into the pockets of these court officers who are involved.
Just to have a person deemed incapacitated so that their rights are delegated to another, that starts at about $6000.
Attorney fees at $450 an hour. Guardian fees of $100 an hour. Examining committee members. Court-appointed attorney for the AIP. Then the whole money making business of the ALF/SNF
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Ding ding ding. This is what most of the posters here are missing. The system is rigged to have large amounts of vig to those involved in helping the incapacitated. The same is true for court appointed lawyers for estates (e.g. probate of an estate without a will or apparent heirs). Lawyers *love* these cases, and that means their buddies who are the judges pass them their way.
OP, I won't criticize you...many others already have. I just want to
thank you for trying to look out for those who can't look out for themselves. For your own account, you don't need to make it complicated, stick to low expense ratio mutual funds or ETF's with broad market coverage, along with exposure to fixed income and a good cash reserve.
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