CASE STUDY: LPA Supports Client Facing Financial Abuse

The Winns Wills, Probate, and Trusts Team work diligently for their clients to arrange and secure their personal affairs as they expressly wish.

But in certain circumstances, their role can also lend itself to safeguarding and recovery in situations where concerns of financial abuse are suspected to be taking place.

That was the case in our case study. We take a look at how the team identified it, before acting swiftly to aid the client and safeguard their future, and finally recover monetary amounts squandered by unscrupulous family members.

What happened?

A client contacted us raising concerns about a relative who was moving into a care home.

There was evidence that other family members had been potentially financially abusing the relative for two years; there were monies moved around, cash withdrawn in large sums and her bank details had been used to sign up for online subscriptions.

Although moving into a care home, the client had mental capacity.

How did Winns help?

Rebecca Harbron Gray, Head of Wills, Trusts and Probate, met with the client and an action plan was put in place:

• To preserve existing assets
• Recover monies from third parties
• Protect their future by creating Lasting Powers of Attorney (LPA)
• Review their Will.

The LPA was essential, as it enabled the client to appoint a trusted person who could be relied upon, who had not breached their confidence, to manage financial affairs and instruct us to work to recover the monies.

Our Wills, Trusts & Probate team liaised with five different banks to register the LPA, access historic bank statements, calculate the amounts moved / withdrawn and then confront the family members from an official standpoint.

The outcome

Following many persuasive letters, telephone calls, social worker assistance, and mediation with the family members over the next six months, we managed to recover approximately £35,000 (86% of what had been missing).

A great result for our client, they are now facing the difficult decision on what to do regarding the remainder.

The LPA proved to be invaluable in this case and now it is being exercised by the attorney to help consolidate the client’s money, ensure it is safe from abuse, properly invested, and easily managed for the continued management of future care.

View from our team

Rebecca Harbron Gray, Head of Wills, Probate and Trust at Winn Solicitors, said: “LPAs are often overlooked but it’s helpful to think of your Lasting Power of Attorney as the document that looks after your affairs while you are alive, and your Will looks after them when you have sadly died.

“Lifetime management is so important and should really be at the forefront of our minds so our best interests are taken care of and we benefit from the protection they can bring.” 

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