How can we protect my elderly father from elder financial abuse?

A family was concerned that their elderly father might be  persuaded to sign away a large portion of his assets to someone who had  gained his trust. Key questions:

  • Does his estate plan already have any protections against something like this?
  • How can he be protected without losing control of his assets?
  • Can the accounts be setup to require two signatures?

Working with his estate planning attorney we agreed that an amendment  to his living trust would provide the protection he needed while still  giving him flexibility over his assets.