What's happening?
Financial abuse of older people can take many forms, including misuse of a power of attorney, pressuring an older person into transferring assets or changing their will, or otherwise taking financial advantage of a person's vulnerability or dependence. These situations often involve family members, which can make them particularly difficult to address.
What could it mean for me?
- Misuse of a power of attorney can, in some circumstances, be challenged and may have legal consequences for the attorney
- Transfers or gifts made under pressure or while a person lacked capacity may potentially be challenged
- Concerns about financial abuse can also be relevant to family provision or will validity disputes after death
- Addressing concerns early can help limit further loss or improper conduct
What are my options?
- Seek advice as soon as concerns about financial abuse arise
- Consider revoking or reviewing an existing power of attorney if misuse is suspected
- Gather evidence of the suspected conduct and the older person's circumstances
- Consider reporting serious concerns to the relevant authorities alongside seeking legal advice
What happens next?
- We discuss the circumstances and concerns raised
- We advise on the legal options available, including reviewing or revoking existing appointments
- We assist gathering relevant evidence where a formal challenge may be appropriate
- We advise on further steps, including Supreme Court proceedings where necessary
How can MGE Lawyers help?
We advise older people and concerned family members on the legal options available where financial abuse is suspected, working sensitively given the personal and family issues often involved.