Financial Elder Abuse: Families Cash In On Time's Terrible Toll (AUSTRALIA)

BY CHRIS BARRETT

November 5, 2009

Queensland's elderly are being financially exploited by their nearest and dearest at an alarmingly growing rate, the state's Public Trustee has warned.

Peter Carne told brisbanetimes.com.au that cases of financial elder abuse, particularly of those that are incapacitated, before the Queensland Guardianship and Administration Tribunal were on the rise.

Figures provided by the Department of Justice and Attorney-General also show that challenges to wills by family members have surged by 70 per cent in the past three years.

"One of the concerns that I have as the Public Trustee is the significant increase in financial elder abuse," Mr Carne said.  

"You are seeing individuals, normally family members, who are abusing the influence they have over a parent, normally, to take control of their assets for their own personal benefit."

Among the notable cases to come before the tribunal was that of a 91-year-old widower who made a $170,000 gift to a personal care worker at his RSL Care home, which she spent in less than two months.

The tribunal ruled the elderly man did not fully understand the nature and effect of the gift.

In another case the nephew of a 90-year-old man with age-related dementia was found to have placed the proceeds of  the sale of the elderly man's house in a family discretionary fund, predominantly for the use of him and his family.

The nephew was also found to have withdrawn more than $63,000 from the man's bank account, leaving him with a total loss of more than $450,000.

Abridged
SOURCE:    The Brisbane Times

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