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Lack of Knowledge of Ponzi Scheme Not Sufficient to Hold Financial Broker Liable for Fraud

Posted by on Jul 19, 2017 in Elder Abuse in NJ | Comments Off on Lack of Knowledge of Ponzi Scheme Not Sufficient to Hold Financial Broker Liable for Fraud

By Fredrick P. Niemann, Esq. of Hanlon Niemann & Wright, a Freehold, NJ Elder Abuse & Financial Exploitation Attorney The case of Cantillo v. Fraenkel details whether an elderly plaintiff is entitled to damages from a defendant financial planner, based on his bad recommendations to invest $200,000 in an investment company that was later discovered to be a Ponzi scheme.  The investment company and the financial planner both assured plaintiff that his investments were safe and low-risk.  Each denied knowing the company was running a...

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Bank Held Not Liable for the Dastardly Deeds of Two Daughters (Part 3)

Posted by on Jul 12, 2017 in Elder Abuse in NJ | Comments Off on Bank Held Not Liable for the Dastardly Deeds of Two Daughters (Part 3)

By Fredrick P. Niemann, Esq. of Hanlon Niemann & Wright, a Freehold, NJ Probate Estate Litigation Attorney In Part 1 and Part 2 of this series I introduced you to a probate case that included a claim of Undue Influence. Two sisters made changes to their mother’s accounts making them joint accounts just prior to her death. In this final part I will be discussing the outcome. In this case, there was no contractual relationship between plaintiff and the defendants who managed her mother’s investment accounts. Defendants had no written or...

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Bank Held Not Liable for the Dastardly Deeds of Two Daughters (Part 2)

Posted by on Jul 12, 2017 in Elder Abuse in NJ | Comments Off on Bank Held Not Liable for the Dastardly Deeds of Two Daughters (Part 2)

By Fredrick P. Niemann, Esq. of Hanlon Niemann & Wright, a Freehold, NJ Probate Estate Litigation Attorney In Part 1 of this series I introduced you to a case involving 2 siblings charging claims of Undue Influence on a financial advisory firm. With only a note from their mother they were able to have her bank accounts changed to joint accounts just prior to her death. In Part 2 I will be discussing the legal aspects of this case. As a general proposition, the case law of New Jersey does not impose upon a financial institution a legal...

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Bank Held Not Liable for the Dastardly Deeds of Two Daughters (Part 1)

Posted by on Jul 12, 2017 in Elder Abuse in NJ | Comments Off on Bank Held Not Liable for the Dastardly Deeds of Two Daughters (Part 1)

By Fredrick P. Niemann, Esq. of Hanlon Niemann & Wright, a Freehold, NJ Probate Estate Litigation Attorney A recent published case involved a plaintiff’s claim that a financial advisory firm and their agent acted negligently and improperly in carrying out a written request to have the mother’s investments changed from accounts solely in her name to joint accounts with just one of plaintiff’s sisters. An appellate court dismissed the case because the plaintiffs failed to show that the defendants breached any legal duties to the mother, as...

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The Story of the Dirty Little Housekeeper (Part 1)

Posted by on Jun 14, 2017 in Elder Abuse in NJ | Comments Off on The Story of the Dirty Little Housekeeper (Part 1)

By Fredrick P. Niemann, Esq. of Hanlon Niemann & Wright, a Freehold, NJ Estate & Probate Litigation Attorney Here’s an interesting recent case I read. An estate administrator appealed to the Appellate Division from an assessment of inheritance taxes by the Department of the Treasury of the State of New Jersey. The facts are that the decedent executed a will in which he devised and bequeathed his entire estate to his wife. She however predeceased him. Under the terms of the will, the entire estate was then to go to his son if his...

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Declaring War on Financial Abuse of Older People

Posted by on Apr 19, 2017 in Elder Abuse in NJ | Comments Off on Declaring War on Financial Abuse of Older People

CNBC has published a very interesting article about Financial Abuse of the Elderly Community. Please follow the below link: http://www.cnbc.com/2017/04/16/new-york-times-digital-declaring-war-on-financial-abuse-of-older-people.html

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An Enduring Challenge: Competency and the Dueling Powers of Attorney

Posted by on Apr 3, 2017 in Elder Abuse in NJ | Comments Off on An Enduring Challenge: Competency and the Dueling Powers of Attorney

By Fredrick P. Niemann, Esq. of Hanlon Niemann & Wright, a Freehold, NJ Guardianship & Elder Care Attorney A resident was place in an assisted living memory locked unit by his son. He (the resident) has a girlfriend of long standing (10 years). The son has told the management of the facility that the girlfriend is not permitted to visit with the resident. In response, the girlfriend contacted the Ombudsman’s office and was told that the son had the authority under the father’s Power of Attorney (DPOA). My understanding from the...

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The Importance of Indemnification and Protection From Legal Liability When Becoming a Trustee of a Trust (Part 2 of a 2 Part Series)

Posted by on Jan 4, 2017 in Elder Abuse in NJ | Comments Off on The Importance of Indemnification and Protection From Legal Liability When Becoming a Trustee of a Trust (Part 2 of a 2 Part Series)

By Fredrick P. Niemann, Esq. of Hanlon Niemann & Wright, a Freehold, NJ Breach of Fiduciary Duty Attorney In Part 1 of this post I discussed an issue that is important for a trustee to be aware of before accepting the appointment as trustee. I also discussed a case where the trustee regretted not looking into this issue prior to accepting appointment as trustee of a trust. In this post I will be reviewing the conclusion of this case in hopes that it will prevent the same thing from happening to you. The trial court found that the trust...

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The Importance of Indemnification and Protection From Legal Liability When Becoming a Trustee of a Trust (Part 1 of a 2 Part Series)

Posted by on Jan 4, 2017 in Elder Abuse in NJ | Comments Off on The Importance of Indemnification and Protection From Legal Liability When Becoming a Trustee of a Trust (Part 1 of a 2 Part Series)

By Fredrick P. Niemann, Esq. of Hanlon Niemann & Wright, a Freehold, NJ Breach of Fiduciary Duty Attorney An unpublished opinion from the Appellate Division of our State Court highlights one of the issues a trustee must be aware of before accepting an appointment as a trustee.  Is there a provision in the trust that allows the trustee to be legally exempt from liability for making investments if there is a conflict of interest, also known as breaching the duty of loyalty?  If not, and the trustee invests trust money into an organization...

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Ratifying the Actions of the Power of Attorney or Guardian Even When Fraud is Alleged – (Part 2 of a 2 part series)

Posted by on Dec 14, 2016 in Elder Abuse in NJ | Comments Off on Ratifying the Actions of the Power of Attorney or Guardian Even When Fraud is Alleged – (Part 2 of a 2 part series)

By Fredrick P. Niemann, Esq. of Hanlon Niemann & Wright, a Freehold, NJ Power of Attorney Lawyer In our last blog, I highlighted the duty of the power of attorney or guardian over an incapacitated person.  It is a duty that cannot be taken lightly and can be abused.  In Estate of Barbara M. Frost, we saw how the agent and sole beneficiary of the estate, took out a reverse mortgage on Frost’s property for himself, yet Frost signed off on the reverse mortgage.  The agent, who held a durable power of attorney (POA) over Frost executed years...

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