Keeping your assets safe and protecting against elder abuse

28 April 2022

In recent media it has been reported that a family has had to endure a five-year legal battle to protest a Will made under undue influence weeks before a family members’ passing.

It has highlighted the importance of keeping your assets safe and putting safeguards in place to prevent elder abuse.

The Public Trustee and CEO, Samay Zhouand said that unfortunately, incidents like this do happen to older members of the community who are at risk of elder abuse.

“It’s sad reality, but the majority of cases of financial elder abuse involve direct family members, trusted friends, caregivers, or their attorneys, when someone loses capacity,” Mr Zhouand said.

Like any type of elder abuse, financial abuse can be devastating to the victims, but it is often harder to recognise due to the nature of the relationships older Queenslanders may have with the perpetrators.

We have seen family members take advantage of mental illness, high stress situations and financial challenges to step in under the guise of protection of their parent or older person to take control of the person’s finances.

“Having your affairs in order can help to protect you against financial abuse,” Mr Zhouand said.

“Enduring powers of attorney and nominated person arrangements play a vital role in protecting yourself and your future.”

For further information or personal legal advice, contact an estate and life planning solicitor. To find an accredited specialist, visit: www.qls.com.au/For_the_community/Find_a_solicitor or reach out to the Public Trustee on 1300 360 044.

The Public Trustee strongly encourages people to reach out to the Elder Abuse Helpline on 1300 651 192 to report their suspicions of any form of elder abuse.

For more information visit www.pt.qld.gov.au.