ST Picks: ‘Financially abused’ by relatives in old age? Here’s what to do

Quick Summary:

As the population ages, cases involving elderly people losing their money to undeserving relatives or even friends are likely to go up.

The Society for Trust and Estate Practitioners (Step) – a global body with more than 20,000 members comprising lawyers, accountants, trustees and other practitioners – did a poll on the loss of mental capacity in 2023 and received inputs from its members from over 40 countries.

SINGAPORE - Cases involving elderly people being conned out of their life savings by relatives, friends and caregivers are likely to increase as more people live longer around the world, a survey has found.

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Article Details

Author / Journalist: Tan Ooi Boon

Category: EconomyBusiness

Markets: Singapore

Topics: Practitioners Media Elderly Involving Likely Members Friends People Limited Relatives Cases

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-22 @ 05:00:00 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 136 words

Reading Time: 1 minutes read

Sentences: 6 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 24578170

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About The Straits Times

Main Topics: EconomyBusiness

Official Website: straitstimes.com

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