Financial abuse of the elderly
- AuthorClaire Read
It is so sad to hear of carers (or anyone in a position of trust) taking advantage of elderly and vulnerable people, and yesterday a news report where a Chelmsford carer was jailed for stealing highlighted to me the importance of ensuring that there is someone who can monitor payments and transactions. A lasting power of attorney can assist with this.
Many older clients are concerned about losing their freedom to spend their own money and put off doing an LPA. But this is not what a LPA is about. It is about empowering someone to make the choice themselves and ensure that the right trustworthy person, or people, can help when needed. Whilst a LPA may not have prevented this theft, it could in the future.
My advice to all clients, no matter what their age, is to consider having a LPA in place if you have someone you can trust to run your financial affairs. None of us knows what lies round the corner, but my view is that it is better to consider the options and be prepared.
Why not contact one of our specialists for a free 15 minute consultation to see how we can help you set up a lasting power of attorney? I am based at our Chelmsford office and can be reached on 01245 453835 or email@example.com