Protecting Elderly Forest Owners from Financial Abuse

Children, grand-children and relatives are abusing their pensioner family members at alarming rates according to state departments of pension and security. These tough economic times provide incentives to tap alternate and easy sources of revenue, including timberland and farm property. Relatives can start by borrowing Uncle Ernie's gas money and end up spending his entire savings and selling his timber.

Here is a discussion on what things concerned friends and associates can do to protect an elderly family member or friend. From that discussion, I have developed this short list of things to do to avoid the loss of forest and timberland assets:

• Find a dependable professional "trustee" (forester or consultant) to accompany owner to the property on a regular basis.
• Give "power of attorney" only to someone who can manage his own money well and is trustworthy. Consider appointing two.
• Develop a friendly relationship with the surrounding neighbors and keep in touch.
• Join a woodland owner's association, study their publications, attend short courses and stay involved.
• Ask your state forestry representative or state extension agent to visit the forest land with you on an annual basis. That's their job.