Thursday, March 1, 2012

Due Diligence - or should I say "Dues" Diligence?

In my business as a financial advisor, before taking on a potential new client, I take time to meet the individual in person; to learn more about them personally, discuss their background and goals, and review their financial documents. I don't charge for this, as it is part of performing my due diligence. We can't determine if there is a good fit for each other without this step.

In the legal profession, I've learned that those steps can equate to hundreds or even thousands of dollars. In my dad's quest to live on his own, he's now twice sought the help of an attorney to plead his case. Both have met with him, conveniently learned that he's financially comfortable (unusual for the average chronic brain-injured alcoholic senior living in a group setting), and after spending an undue amount of time "researching" his situation before determining that he is in fact placed in a suitable setting, slapped him with bills ranging from $800 to $3200.

I simply don't get this. Where is the oversight? Both claimed that my dad "had a right to be represented if he felt that he was being mistreated." I get that. But a couple phone calls to doctors, previous program directors, and easy requests for documents from my brother and I could have provided enough documentation for them to realize that my dad's request was not realistic. Instead, knowing that they were working with a vulnerable adult with financial means, they billed for every phone call, every email, and every lift of the finger related to working "on behalf" of my dad. I find this despicable.

How can my brother and I prevent future situations like this? My dad is highly likely to go back to the drawing board and just seek out another attorney. He is happy to boast of his savings, which I fear will only entice another lawyer to so valiantly "seek justice" for my dad. Mike says I ought to contact the Attorney General - not sure if that's the right outlet, but worth a try. Would love to find out if others have been in a similar situation with vulnerable relatives...

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