Baby Boomer Wealth, Covid-19 & Fiduciary Litigation - Is it a “Perfect Storm” or “The Tsunami” that’s about to hit the US? History tells us that in times of immense economic stress, disputes and litigation significantly increase. The Covid-19 pandemic - with its unprecedented impact on markets, businesses and employment - is likely to give rise to such strife. While it has been well publicized that older adults are at highest risk of serious illness and death from COVID-19, they are also at a very high risk for financial exploitation by those they trust and depend on for their physical and financial welfare. Together the Silent Generation and Baby Boomers own a total of $80 Trillion dollars in the US today. This pot of gold becomes a very attractive source of “desired” financial bailout with the current economic downturn. What is evident is that legal epidemic related to Elder Financial Exploitation will follow in the wake of the current crisis. The bigger question is, are we ready for this tsunami?
• Discuss the increasing risk of financial exploitation in the rapidly aging wealthy US population
• Understand the impact of Covid-19 & the economic recession on fiduciary litigation and forensic accounting services
• Identify the signs of Elder Financial Exploitation and explore the nuances in dealing with fiduciary litigation cases involving the elderly
• Identify the role of a forensic accountant in fiduciary litigation
• Market your services to fiduciary litigators - understand their needs to offer solutions