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Lawyers and accountants join forces on elder financial abuse

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Lawyers and accountants will come together to tackle the growing problem of elder financial abuse.

Law firm Slater and Gordon and CPA Australia will run a seminar in Melbourne for accountants, as part of World Elder Abuse Awareness Day on 15 June, 2016.

The seminar will provide accountants with information on:

  • Identifying the signs of elder financial abuse
  • Potential legal issues that may be encountered when dealing with elderly clients.
  • Protecting elderly clients’ rights and interests.

Slater and Gordon Associate Diana Young, who will present at the seminar, said elder financial abuse had become more prevalent in Australia and could no longer be ignored.

“Australia’s ageing population combined with the increased wealth of retirees has led to an increase in elder financial abuse,” Ms Young said.

“As lawyers we see the devastating impact on elderly people when their bank accounts, assets and property are used illegal or improperly – often by family members. 

“The financial abuse can leave them in a vulnerable position - scared, humiliated and unsure of their legal rights. There are a number of legal avenues that can be used to assist older people to recoup their financial losses.”

CPA Australia head of policy Paul Drum said accountants can play a frontline role in identifying elder financial abuse.

“In many cases, because of their understanding of a person’s financial position, accountants may be the first to notice unusual transactions that could infer financial abuse,” Mr Drum said.

“CPA Australia has developed a toolkit that may assist members that find themselves in this situation.”

Event Details:

What: Elder Financial Abuse – the Law in Practice

When: June 15, 5:30 pm - 7:00 pm

Where: Slater and Gordon Lawyers,
Ground Floor Reception,
485 La Trobe Street, Melbourne