By Susan M. Graham, Certified Elder Law Attorney, Senior Edge Legal, Boise, Idaho
This happened for the heiress of L'Oreal, a French cosmetics company. Liliane Bettencourt is 89. She and her daughter, Francoise Bettencourt-Meyers, have been suing one another for oyears. A French Court found the mother to have failing mental healtlh and to be showing signs of dementia. The Court then appointed the daughter as her mother's guardian. Now, the daughter can control when her mother can travel and how her money will be managed.1
Could this happen to you?
A simple way to avoid this is sign a financial power of attorney and health power of attorney stating who you want to make financial and health decisions for you if you are not able to care for yourself. That will be a great first step.
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1Heiress Loses L'Oreal Family Fight. The Wall Street Journal, Page B8, October 18, 2011.