An enduring power of attorney (EPA) can be a protective measure against elder abuse and potentially a tool that can be misused to facilitate financial exploitation. The link between an EPA and elder abuse lies in how the authority granted through an EPA can be wielded by the appointed attorney, who may have access to an older adult's finances and assets.
Understanding the EPA's Role in Preventing Elder Abuse
When properly utilised, an EPA allows an individual (the donor) to appoint a trusted person (the attorney) to make financial and legal decisions on their behalf if they become incapacitated or unable to make decisions independently. This can be a valuable tool for ensuring the donor's affairs are managed according to their wishes.
Risk Factors for Elder Abuse Through EPA
However, if the attorney appointed under the EPA acts dishonestly, negligently, or with ill intent, it could lead to elder abuse. Here are a few ways in which an enduring power of attorney can be linked to elder abuse:
Common Forms of EPA-Related Elder Abuse
Exploitation by the attorney
The attorney may misuse their authority to siphon off funds
Manipulate financial transactions
Transfer assets for personal gain
Take advantage of the donor's vulnerability
Coercion or undue influence
The attorney may exert undue influence
Pressure the donor to modify the EPA
Manipulate the donor into granting significant powers
Negligence or mismanagement
Poor financial management
Neglecting the donor's needs
Making reckless investment decisions
Preventing Elder Abuse Through EPA Safeguards
To minimise the risk of enduring power of attorney-related elder abuse, it is essential to take these precautions:
Choose a trusted attorney
Appoint 2 attorneys jointly
Seek legal advice
Regular monitoring and communication
Appoint a professional or institutional attorney
Regularly review and update the EPA
Detailed Prevention Strategies
Trusted Attorney Selection
Select someone with integrity
Choose a person with proven responsibility
Ensure they understand your wishes
Professional Oversight
Consider appointing professional attorneys
Engage trust companies
Maintain regular financial reviews
By taking these precautions and remaining vigilant, the risk of elder abuse can be minimised, allowing you to benefit from the intended protection and support while safeguarding your financial well-being.
If you would like to find out more, you can call Crystal Lawyers on 04211 45637.
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