Elderly Citizens Robbed by Own Families

By Lou Robson
Article from: Sunday Mail


QUEENSLAND'S property boom has sparked an increase in the number of elderly people being swindled by predatory family members.

Middle-aged children whose parents own expensive property have used power of attorney to transfer ownership then sell homes, pocketing hundreds of thousands of dollars.
A spokeswoman for the Lifeline-sponsored Queensland Elder Abuse Prevention Unit said $30 million was known to be stolen this way each year.

Many other seniors were too ashamed to report family-related theft.
Justice Department Adult Guardian Dianne Pendergast said 145 cases of elder abuse were under investigation in Queensland.

One woman lost her $750,000 home after granting a relative power of attorney.
Another returned from hospital to find her house had been sold.
Ms Pendergast said a growing number of "predators" wanted their parent's assets.
"I'm sure property prices have played a role in the growing number of financial elder abuse cases," she said.
"The inner-city worker's cottage is suddenly worth $1 million and middle-aged children don't want to wait for their inheritance."

State Seniors Minister Warren Pitt said a new $1.9 million Seniors Legal and Support Service network had been set up to protect asset-rich elders.
"While neglect and psychological abuse are common forms of abuse, financial abuse is a significant emerging issue," Mr Pitt said.

"Perpetrators of abuse are most frequently adult children, followed by spouses or partners and other family members."

He said offices in Cairns, Townsville, Hervey Bay, Toowoomba and Brisbane would be operational this month.

The network will provide free legal advice, counselling, court support and financial education.
Aged-care officials said the problem was so widespread the Department of Families, Youth and Community Care invested $50,000 in a University of Queensland project called Minding the Money - an educational program on asset protection.
During the $100,000 project, which received $50,000 in funding from the J.O. and J.R. Wicking Trust for the visually impaired, 27 seminars were held at at bowls clubs, banks and retirement homes in the ageing Brisbane suburb of Redcliffe.
UQ Assets and Age Research team Dr Deborah Setterlund said seniors needed to heed warning signs and put financial safeguards in place.

"This problem is surprisingly and frighteningly common," Dr Setterlund said.
"There's no discrimination between sons and daughters and the sums range between $100,000 and $750,000."

Seniors were advised to seek legal aid before signing power of attorney documents, to install legal safeguards in power of attorney documents, to grant power of attorney to more than one person and make an asset inventory. It was also recommended seniors keep bank statements, bills, receipts and records of all cash transactions.

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Greedy adult children who cannot wait to have 'their inheritance' are more common than we thought. It is their over-blown sense of entitlement that often drive them to all sorts of schemes. They will manipulate, neglect etc.. to get what they want.
Often the elderly victims do not want to report because they are fearful and ashamed. There should be helplines for such victims to talk to someone who is trained to assist them.