Cassidy conviction highlights importance of having arrangements in place for handling relative’s affairs
Holmes Mackillop Solicitors has advised that this week’s sentencing of Margaret Cassidy, who was convicted of defrauding her elderly aunt, Elizabeth, out of more than £300,000 to build a gym, is a reminder of the importance of having proper arrangements in place for the handling of finances and property.
John Di Paola, senior associate at the firm, said the case highlights the need to seek prompt advice should you become concerned about how your or your relative’s affairs are being handled and shows the challenges that can be presented in recovering monies if they are not used appropriately.
Elizabeth said she had trusted Margaret to deal with matters at the bank but that she had not given Margaret permission to take money. Elizabeth only recovered £4,000 before she passed away and Margaret has now been sentenced to two and half years in prison.
“This case is a reminder of how elderly relatives can be vulnerable, even when trusting their own family,” said Di Paola.
“We always recommend clients give proper consideration to arrangements for their assets for before and after they pass away, being a power of attorney and will.
“More importantly, we also recommend that prompt advice is sought if there are concerns about how your or your relative’s money is being handled. There may be scope to revoke a power of attorney or apply to the court to have a power of attorney/executor removed, depending on the circumstances.
“This case serves as a sad example of the challenges that can exist in recovering the funds in these circumstances, so we’d recommend seeking advice as soon as possible.”
ENDS
For further information please contact John Di Paola tel 0141 226 4942