Somali: how 17th century crimes find 21st century success

As Vermont town celebrates Captain Richard Phillips' release after being held hostage by Somali pirates, additional ships are being attacked, other hostage situations continue and only time will tell the effectiveness of new anti-piracy initiatives recently announced by U.S. Secretary of State Hillary Clinton.

With regard to piracy, Secretary Clinton said, “We may be dealing with a 17th century crime, but we need to bring 21st century solutions to bear.”

High seas piracy is not the only crime from ages past currently confronting today’s society. The pirating of property and even modern day grave robbing is becoming an issue as probate venues or probate instruments such as wills, trusts and guardianships are increasingly used to loot assets of the dead and disabled/incapacitated. This Involuntary Redistribution of Assets (IRA) results in property being diverted from intended recipients and instead distributed in a manner contrary to the intentions of the property owner. Where theft once required some degree of physical aggression, today it occurs in legal offices and courts with the wave of a pen.

An entitlement mentality fuels much of this activity. Welcome to the Land of the Gimme-Gimmes and the Home of the I-Want-Mores! Our economic downturn is definitely a “stimulus” for estate looting actions. The aging Baby Boomer population will be a prolonged IRA catalyst with more assets than ever viewed as up for grabs. Financially solid Baby Boomers will become ripe targets while fiscally irresponsible Boomers are prone to see IRA as a vehicle to fund their own retirements and to help provide for their children’s future.

Longer life spans can be positively viewed, but their reality can also bring an increased susceptibility to undue influence and other elements of elder abuse – financial and otherwise. This longevity also creates more opportunity for late-in-life marriages, a common scenario for fostering IRA activity as one party of a new marriage (or their family members) develop a sense of entitlement to the assets accumulated by their “inherited” family. Grave robbing or other property pirating situations easily flow from these situations. No one thinks it will happen to them, but too often it does.

Stealing from the dead and disabled has gone on for centuries, but never to the extent that is likely ahead or with the level of sophistication and entitlement. This is another area in which we need 21st century solutions for this age old act.

With the transfer of wealth that is getting ready to occur in the next 20 or so years, the Involuntary Redistribution of Assets will likely skyrocket. People think proper estate planning will protect them – wrong! People think they don’t have enough assets to be a target – wrong!! There is no inoculation from the threat of IRA. Forewarned, however, is forearmed.

Lou Ann Anderson is an advocate working to create awareness regarding the Texas probate system and its surrounding culture. She is the Online Producer at www.EstateofDenial.com and may be contacted at info@EstateofDenial.com.