You won't believe the shocking rise in financial abuse involving wills
Lawyers have reported a shocking rise in the amount of financial abuse involving wills, with vulnerable seniors being taken to the cleaners by family members.
News.com.au reports Gold Coast lawyer Marie Fedorov has seen a massive spike in the amount of financial elder abuse she’s dealt with in recent months.
“I’m on the lookout now because I care about seniors and don’t want them to be left high and dry,” Ms Fedorov said. “Sadly, a large number of victims are too afraid or too ashamed to speak up while others fear being isolated from their family.”
This is backed up by a report from the Elder Abuse Prevention Unit, which has shown a 20 per cent increase in reported cases of financial abuse from 2014-15 to 2015-16.
The Queensland Government has recently introduced tough new laws for guardians, administrators or those with power of attorney, but many believe more must be done.
“Many people expect to receive assets from their parents and will coerce seniors into signing wills or enduring power of attorney in order to get all of their assets prior to the older person’s death,” Ms Fedorov said.
“Often, people are doing ‘dodgy deals’ so they can transfer all of the assets and put their parents in a nursing home.”
What are your thoughts? Do you think enough it being done to protect vulnerable seniors?