According to prosecutors, the parents of a boy who sustained permanent disabilities during his birth at a hospital wrongfully took more than one million dollars from his trust account. The trust account was created to cover the boy's medical expenses and care.
In response to financial scams targeting the elderly, victims and prosecutors are filing an increasing number of legal claims. Accordingly, family members must take steps to protect the assets of their elderly parents to prevent estate planning successes from being undone.
Some states, including Virginia, that are facing a budget shortfall are attempting to retrieve money from the estates of people who used Medicaid to pay for long-term care. Medicaid is an entitlement program financed by the state and federal governments. The Department of Medical Assistance Services administers the Virginia Medicaid program.
Civil rights icon Rosa Parks died in 2005, but her estate still has not been settled. An auction house was supposed to sell nearly $10 million worth of her assets, but a fight over her will's execution due to ambiguous estate planning has slowed the process. Recently, a judge decided nothing will be sold without his approval because the sides could not agree.