Older people, especially those living alone are increasingly at risk of being targeted by unscrupulous individuals for financial gain. The ‘baby boomer’ generation, having benefited from increasing property prices, is a relatively wealthy section of the population. While medical science has increased the average lifespan it has not made comparable progress in reducing the cognitive impairment associated with the ageing process. In addition, many families are fragmented, with divorce, separation and work opportunities often leaving older people isolated within their communities. There is therefore a significant risk that financial abuse of the elderly will be a growing phenomenon.

Dementia Action Week runs from 19^th-25^th May 2025 and aims to raise awareness of the need for early diagnosis to give people access to care, treatment and support. The Alzheimer’s Society estimates that there are currently around 900,000 people in the UK living with dementia; 1 in 14 people aged over 65 and 1 in 6 aged over 80 years old.

Whether a loved one has been diagnosed with dementia or not, if they live alone and have assets of any significance, family members need to be aware of the potential ‘red flags’ of financial abuse. There can be subtle and difficult to spot – but if you have a bad feeling about someone then it is often sensible to ‘trust your gut’.

What does ‘grooming’ mean?

We are sadly all too familiar with the concept of children being groomed and sexually abused by trusted adults. But this concept is not confined to children or to sexual abuse. Vulnerable adults are often lonely and therefore susceptible to overtures of friendship being made by others – sometimes family members but also friends, carers and neighbours. It is often very difficult for the victim or their family to identify and challenge behaviour which may initially appear kind and positive but later appears to have a more sinister motive.

What are ‘red flags’ of financial abuse to look out for?

• Signatures that do not resemble the older person’s normal handwriting – or a signature when the person is too unwell to be able to write.
• Sudden changes in bank accounts or unexplained large withdrawals.
• The sudden and unexplained transfer of assets to someone else.
• Deliberate isolation of an older person from friends and family, resulting in the care giver alone having total control.
• Change of ownership of a property.
• The purchase of items that the person does not require.
• Numerous unpaid bills or overdue rent when someone else is supposed to be paying the bills – or apparent lack of amenities that the older person should be able to afford.

How do you help a ‘groomed’ victim of financial abuse?

A victim may genuinely believe that the perpetrator has their best interests at heart or may have believed lies and misinformation told to them about family members. Embarrassment or a sense of shame may also play a role – or more seriously, threats or coercion.  The action that can be taken very much depends on the facts of the situation and whether the victim wishes, and has the mental capacity, to instruct a solicitor. In some cases, the victim has already died, and it is family members who want to know what can be done to recover money or property.

What is a predatory marriage?

One extreme example of financial abuse is a predatory marriage; where the vulnerability of a person is exploited by someone inducing them to marry, often in secret. Marriage has serious financial consequences, which a vulnerable victim may be completely unaware of. This includes the fact that in England & Wales, marriage revokes a will.  There are remarkably few safeguards to protect someone who lacks the mental capacity to marry from being abused in this way. And it can be difficult, if not impossible, to unpick the consequences.

If the victim of a predatory marriage does not make a new will, then they will die ‘intestate’. The intestacy rules in England & Wales provide that where the deceased was married, with children and has an estate worth more than £322,000, the husband, wife or civil partner keeps all the assets (including property), up to £322,000, and all the personal possessions, whatever their value.

The remainder of the estate will be shared as follows:

• the husband, wife or civil partner gets half of the remainder
• the other half is then divided equally between the surviving children

A predatory spouse, during the lifetime of the deceased, may in addition, financially abuse their spouse (or civil partner) by draining their accounts and transferring property or other assets into their sole name.

What do I need to think about if I need legal advice?

Some of the key questions are:

• Is the victim still alive?
• Do they have mental capacity?
• If they do, are they vulnerable? If so in what way?
• What immediate help/support does the victim need?
• Has a criminal offence been committed?
• Does the victim live with the perpetrator?
• Is the alleged financial abuse connected to physical or emotional abuse?
• Is there a power of attorney in place? If so, who is the attorney?
• Is the concern about a series of transactions or a one-off transaction?
• Is there any paperwork to support the case (legal documents, bank statements etc)?

Talking about money and property can be difficult within a family setting – but having open and honest conversations can help to minimise the likelihood of financial abuse happening. Planning for the future by way of making wills and powers of attorney, using a qualified and insured solicitor, can never guarantee that no issues will arise, but it can be hugely helpful for family members to know what a loved one’s wishes are, should they lose capacity or become vulnerable in later years.

Sarah Young – Director & Solicitor