Your elderly relative has always been caring and compassionate. They’ve provided help for you and other family members whenever it has been needed, and they intend to do the same when they pass.
An estate plan allows your loved one to do exactly this, through a will, trusts and other estate planning instruments. Sadly, some people see your relative as a soft touch. They’ve mistaken the kindness on offer as gullibility. They are intent on getting their share of the inheritance, which means you will ultimately lose out.
When a person attaches themself to someone with the sole purpose of benefiting from an estate plan, this is often referred to as inheritance theft. Outlined below are a few examples of how this can manifest itself.
A fraudulent marriage
Initially, you were happy when your elderly family member said they had found a new companion. You never thought they would find true love again. Sadly, when you look more closely at the relationship, it becomes evident that your relative’s new romantic partner is out to take advantage. They’ve pushed through a rushed marriage in order to get part of the estate.
Abusing estate planning positions
In their estate plan, your family member will have to nominate certain individuals to carry out different tasks. A financial power of attorney is responsible for making decisions not for their own benefit, but for the benefit of beneficiaries. Occasionally, people placed in such a position can abuse their powers and transfer money and other assets for their own profit.
If you suspect foul play in the estate planning process, then you can make a challenge. It’s advisable to seek some legal guidance before taking your next steps.
