JCP is urging those with elderly or vulnerable relatives to consider using legal options to protect their family members, following a rise in cases of financial abuse against the elderly.
John Collins and Partners Solicitors LLP (JCP) has seen cases of financial abuse against the elderly double in the past 12 months, in matters such as taking money or property unlawfully, gaining power of attorney through deception, coercion, or undue influence and forging an older person's signature. This follows the UK Study of Abuse and Neglect of Older People concluding that Wales had the highest prevalence of abuse with regards to the elderly and vulnerable.
Amanda Rees, Partner and Specialist in this area of the law from JCP, said:
“Worryingly it’s not just strangers who are preying on the elderly and vulnerable, we have also seen an increase cases where family members themselves have taken advantage of someone with limited capacity. I would urge anyone who feels as though their mother, father, grandparent or any vulnerable elderly relation who is open to financial abuse is to consider all options to ensure their relative is protected as much as is legally possible.
“Sadly, there are many factors that make some elderly people more vulnerable to those who would look to take advantage of them, such as disabilities that make them dependent on others for help, predictable financial patterns, a limited knowledge about financial matters or unawareness of the value of their assets, particularly homes that have appreciated markedly.”
Age Concern Cymru’s 2009 EnvisAge report states that “the UK Study of Abuse and Negect of Older People reported that Wales had the highest prevalence of abuse, with a rate of 6 per cent compared with 4.3 per cent in Scotland, 3.9 per cent in England and 3 per cent in Northern Ireland. If you factor in the number of people in care homes, hospitals and those with dementia, (groups which the research did not take into account) the problem is likely to be much greater, with reported cases being just the tip of the iceberg."
Amanda Rees continued:
“As a general rule we are contacted regarding these cases either through Prevention of Vulnerable Adults (POVA) or the police’s Vulnerable Adults unit, though some clients come to us directly, there is nothing to stop anyone seeking legal advice.
“You can also consider the option of taking action now and appointing someone you trust to make decisions on your behalf and manage your finances and affairs should you become unable to do so yourself. Although it may be an unpleasant thought that you may one day lose capacity to sort out your affairs this is something that could happen to anyone, so it’s never to early to consider your options.
“A Lasting Power of Attorney (LPA) (previously called an Enduring Power of Attorney) is a legal document which allows you to appoint someone you trust (who is called your attorney) to make decisions on your behalf and manage your finances and affairs should you become unable to do so yourself – this is an option we often discuss with clients who have concerns about either their own future or that of vulnerable relatives.”
Signs that an elderly relative is being taken advantage of include unexplained bank withdrawals, missing belongings and property, suspicious signatures on checks or other documents or the person being unaware of or does not understand financial arrangements that have been made for him or her.
Anyone with concerns about an elderly relative should contact John Collins & Partners LLP Solicitors on 01792 773 773.
