£16.6 billion a year. That’s the shocking cost of abuse against older people in the UK.

A landmark study from safer ageing charity Hourglass, released during Safer Ageing Week 2024, has brought to light the devastating economic and emotional toll that elder abuse takes on individuals, families, and society at large.

At SLS Wills and More, we believe this is not just a social issue, it’s an estate planning issue too. And one that demands immediate attention from individuals, professionals, and policymakers alike.

A National Crisis With a Personal Impact

Hourglass’s report, The Economics of Abuse, reveals a bleak picture:

• Abuse against older people costs the UK £16.6 billion annually, projected to rise to £25 billion by 2050.
• Over £53 million has been stolen or defrauded from older people in just three years – and 61% of perpetrators were family members.
• Financial abuse doubles the risk of premature death for older victims.

These statistics are deeply troubling. But behind them are real people – parents, grandparents, neighbours – often suffering in silence. And while the financial cost is staggering, the emotional toll is incalculable.

How Estate Planning Can Offer Protection

While no legal document can prevent abuse on its own, robust estate planning is one of the most effective tools available for protecting older people from financial manipulation and harm. Here’s how:

✅ Lasting Powers of Attorney (LPA)

A properly drafted LPA allows you to choose someone you trust to manage your financial and health decisions if you become unable to do so yourself. It can:

• Prevent untrustworthy individuals from taking control of your assets.
• Ensure your finances are managed in your best interests, not someone else’s.
• Be tailored to include safeguards, such as requiring attorneys to consult others before making major decisions.

At SLS Wills and More, we take extra care to guide clients through the process with empathy and clarity – always ensuring they fully understand who they are appointing and why.

✅ Carefully Structured Wills and Trusts

Wills and trusts aren’t just about who inherits your estate – they’re about how they do. For example:

• Trusts can delay access to money or property until beneficiaries reach a suitable age or stage in life.
• Executors and trustees can be chosen for independence and accountability, helping to guard against abuse.
• You can include explicit instructions for how assets should be managed or distributed – reducing the risk of misuse or pressure.

✅ Independent Document Storage

At SLS Wills and More, we store wills and other key documents free of charge, securely and independently. This ensures they are not lost, altered, or destroyed by individuals seeking to manipulate an estate.

We also maintain a clear, client-focused policy for access to stored documents, protecting your wishes at every stage of life.

What You Can Do Now

The abuse of older people is not inevitable. With the right plans in place, it can be prevented. Here’s how we can help:

• Review your will: Is it up to date? Does it reflect your current wishes and family dynamics?
• Create or update your LPA: Ensure you have attorneys you trust – and that safeguards are in place.
• Consider trusts: Especially useful if you are concerned about a vulnerable beneficiary or complex family relationships.
• Store your documents securely: Keep control of your wishes and who has access to them.

Support and Social Responsibility

At SLS Wills and More, we take our role in safeguarding clients seriously, and not just through legal documents. We are proud to donate 5% of our profits to community causes including Hypo Hounds, Wildwood Trust, and Community Driving School CIC, and we advocate for stronger protections for vulnerable adults.

We believe that planning for later life is about peace of mind, not just for you, but for those you leave behind.

📞 Call us on 01304 577998
📧 Email hello@slswillsandmore.co.uk
🌐 Visit www.slswillsandmore.co.uk