The numbers can be alarming: the World Health Organisation estimates around 1 in 6 people over age 60* have experienced some form of abuse. And most concerning is that this abuse is allegedly perpetrated by a trusted person such as a friend or family member.
World Elder Abuse Awareness Day is held every year on 15 June to shine a spotlight on issues around elder abuse and create greater awareness. The best ways to prevent abuse are awareness, education and engaging the right professionals to help with decision-making.
Elder abuse can take many forms and can be physical, psychological, sexual or financial abuse. Sometimes the trusted person may not recognise that their actions are effectively a form of abuse. For example, using an Enduring Power of Attorney to start distributing a parent’s assets to family members after that person has entered residential care. You might hear this referred to as “inheritance impatience”. It may not look harmful, but if decisions are made in the family’s interests and not the older person’s best interests, this may be elder abuse.
Life can change quickly. If we lose capacity and need help, we will need someone we trust to step in and make decisions for us. Who would you trust?
World Elder Abuse Awareness Day gives us all a chance to think and reflect. But it is not just a one day a year issue. It is an ongoing issue and needs ongoing review.
We aim to ensure all our clients are ready and have the right documents and systems in place. This can vary from state to state. Talk to us today to review your frailty plans or for help with making the right decisions for an older loved one. It is never too early to start the conversation and set up appropriate arrangements.
Call us on 1300 451 339 for independent financial advice, whether that be to review your own financial situation or if you need help in your role as Enduring Power of Attorney.
* WHO Fact Sheet on elder abuse, dated June 2021
