Probate & Conservatorship Abuses

I received a comment on one of my postings regarding Britney Spears' conservatorship which I feel needs a bit more due justice. It is concisely well written and adequately communicates how this process can be abused:

"Britney Spears is definitely moving into a new arena -- one in which people seriously play "for keeps."

"An industry exists in which lawyers, accountants and other unethical participants, sometimes with complicity from probate courts, can separate any of us from our property when certain (not that unusual) circumstances occur. These circumstances can be orchestrated and lead to an Involuntary Redistribution of Assets (IRA). This often occurs with wills, trusts, guardianships or other probate-related situations.

"To think that property and assets are your own and that you have control over their ultimate distribution is a mistake. Situations such as are described at www.estateofdenial.com occur more often than most people would ever believe. A close study of this issue leads one to recognize that going to court is not a path that necessarily provides reasonable resolution. This course too easily leads to lawyers or administrators becoming the functional beneficiaries while the intended beneficiaries are left with reduced or no assets as well as potentially significant legal expenses.

"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."