Children keen to inherit ahead of time

Jun 24, 2010, 11:09 GMT

Sydney - It may have been just coincidence but a report on cases in Australia where children were found to have tried to steal money, property or assets from their parents came out on World Elder Abuse Awareness Day.

The report, from the State Trustee in the state of Victoria, makes worrying reading.

'The majority of older people coming to the attention of organizations because of financial abuse are women and the people most likely to be perpetrating the abuse are sons,' the report said.

Dementia was a factor in many cases and powers of attorney were being used to part the vulnerable from their wealth. A power of attorney is a legal document appointing one person to sign documents and otherwise act on behalf of another during the donor's lifetime.

Steve Cowell, who wrote the report, said it was hard to know the level of criminality because those who found out about shady dealings were likely to be family members and so reluctant to go public.

'It's rarely reported to police because the victim is often unwilling to make a statement against a family member and a lot of the time they don't understand for some time that they are a victim,' he said.

And, because of the age of the victim, it can be the perfect crime.

Often, the cases involve those who would inherit on the death of a relative trying to get at the legacy ahead of the actual death. What is in play is the notion of anticipating something that is coming to you anyway - and perhaps persuading yourself that you need that inheritance now rather than later.

'There is a myth that when you're elderly you don't need money any more, that you're too old to enjoy it anyway, that the government will look after you,' Cowell said.