Financial Elder Abuse Occurs Even in Famous Families

A recent story illustrates that financial elder abuse impacts a wide spectrum of the population and frequently occurs even within the best families. According to this article, Chase Caro has admitted that he stole $310,000 from his grandparents. Chase Caro ended up liquidating three CD’s without their permission, set up a joint trust fund in his name and theirs, and then began to withdraw money for his personal use. Chase Caro is the son of one of my favorite authors, Pulitzer-prize winning biographer Robert Caro.

Chase Caro pleaded guilty to Grand Larceny and has been sentenced to 2.5 – 7.5 years in prison. Chase Caro had previously pleaded guilty to stealing $470,000 from another client, who was also elderly (and trusting). Caro has agreed to pay restitution of 1.1 million dollars which also includes funds from a third theft. An attorney, Chase Caro was also recently disbarred.

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Scott Schomer, Estate Planning Attorney

A graduate of Boston University School of Law, Scott P. Schomer is a frequent lecturer on estate planning and elder law issues, having discussed these important issues on local and national television. A seasoned courtroom advocate, Scott has obtained combined judgments and verdicts in excess of twenty-five million dollars for his clients. Scott has served as a member of the Los Angeles Superior Court Probate Volunteer Panel (PVP Attorney), Probate Settlement Panel and a Judge Pro Tempore. Scott's expertise has been recognized by his peers with such accolades as a life-time membership in the Multi-Million Dollar Advocates Forum, the Five Star Wealth Manager designation, and repeated nominations as California Super Lawyer.

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