Protecting Yourself and Your Loved Ones from Fraud by Abuse

According to recent data from Report Fraud, individuals over 70 have made up more than half of fraud by abuse victims during the 2025/26 tax year. With a total of £51 million in losses. These individuals were targeted by the trusted people in their lives, such as family, friends and even carers.

Fraud by abuse refers to a person who exploits their position of authority, responsibility or trust to access a victim's assets or Estate. Older people are sadly more likely to be affected with those aged 80 - 89 making up the highest number of reported victims out of any age group.

It is a horrible thing to happen to anyone. Without important/valid legal documents such as a Will and Lasting Powers of Attorney, you may be more vulnerable to fraudulent behaviour from abusers.

You have a challenging decision to make when it comes to choosing your attorney, especially for Property & Affairs as should you lose capacity then this person will have access to your finances. It is saddening to hear, but there are people who will misuse their Power of Attorney. The rules you set in place should protect you, but abusers sometimes find loopholes and ways around them. So, you must be careful when selecting your attorney and choose someone who you trust implicitly.

However, should you feel at any time a formerly trusted person has begun acting suspiciously, please consider changing your attorney. For an additional fee, you can change your attorney which involves cancelling your current one and registering a new one.

Alternatively, if you have been appointed as someone's attorney, or are primary support for an elderly relative, please take care to remain vigilant to spot signs of financial abuse. Most reports of fraud by abuse come from family members of vulnerable people, who can spot warning signs much sooner. It is saddening that the Report Fraud investigation found that many people committing fraud were carers.

One of the best ways to ensure your voice is heard when you no longer have one, is by having an up-to-date Will in place.

When sitting an appointment or considering your Will & LPAs, we insist that your family members not be involved. The details of your Estate Planning are entirely your choice, and any reputable company will uphold this and ask for anyone other than yourself to leave the room, even the most trusted family members. This is to ensure you are not under any undue influence and to make sure that your wishes are entirely your own, even if they upset your loved ones.

You are not only protecting yourself, but the loved ones you leave behind. Report Fraud's findings demonstrate that offenders will choose to target individuals who are going through ill health, cognitive decline or bereavement and so it is a good idea to get valid documents in place before you become vulnerable.

It does not stop once you have passed away, there are cases of fraud continuing even after death. Cases of relatives manipulating Wills and more legal documents in attempts to gain access to assets and the Estate. A method to counter this before it has happened, is by placing your Will in professional and secure storage, just make sure your executors are aware of the company you are storing it with so they can act on it later on. By having your documents safely kept somewhere not inside your house, you mitigate the risk of someone taking advantage of your vulnerable state by locating and tampering with your Will before your executors have seen it.

Your loved ones may also be affected if the fraud has caused you to accumulate debt. Under Estate Law any outstanding debtors will be cleared before remaining funds are distributed to the beneficiaries.

One way to avoid this is through a living Trust called a Family Trust. Establishing this Trust while you are in a fitter state allows for your wishes to be considered while you are still here. A Family Trust involves putting your Estate into Trust whilst you are alive. You would then be free to enjoy the property as the Trust would not affect your living situation. If you feel you need to downsize property at all, this can still be done, and you would receive the leftover money after fees and your new property would be placed in Trust.

Case Study

How a Family Trust Can Protect From Fraud By Abuse

A client of ours, who had established a Family Trust with us and named us as Professional Trustees, unfortunately fell victim to a scam. This led to her accumulating a large sum of debt in attempts to keep up with the thousands of pounds that her scammer was demanding.

Once she had passed, the family were horrified to discover the damage that had been done, and the sheer amount of debt as they had had no idea what was happening to their beloved family member. They worried that all assets and the Estate would be claimed by debtors, leaving them with nothing, not even the precious family heirlooms which held more emotional than physical value.

However, as the Trustees in charge of managing the Trust her Estate was in, we managed to fend off the creditors who attempted to recoup their funds. As Trustees we were able to prove she had established the Trust before accumulating the debt and prevent the creditors from touching a penny.

Had the Trust failed, the funds held would have been completely engulfed by the debts. Luckily, thanks to the Trust and our actions as Trustees, the loved ones of the deceased were indeed looked after, just as she wished they would, despite her misfortunes later in her life.

Sadly, fraud can happen to anyone, but being a vulnerable individual does make someone a more likely target. We have shared with you in this article ways to prevent potential damage and protect yourself were possible. If you wish to discuss your Estate Planning further with us, please don't hesitate to contact us.

If you have any concerns regarding your loved ones or yourself, do not hesitate to visit Report Fraud's online portal where you can report fraud cases. Alternatively, they can be phoned on 0300 123 2040. You should also contact the Office of the Public Guardian for further advice or to raise concerns you may have.