Adult siblings may find themselves embroiled in disputes after their parents die. In some cases, one sibling may accuse another of inappropriately influencing a parent, possibly by misusing a caregiving position for personal benefit. In scenarios where one party has inappropriately influenced an estate plan, other beneficiaries can challenge the contents of it in probate court.
Financial misconduct may occur through coercion and manipulation to gain access to assets while a vulnerable parent is still alive. Adult children who can prove a sibling engaged in financial abuse of a parent can prevent or reverse asset transfers.
Financial abuse undermines autonomy
Financial abuse of older adults can take many forms. Individuals may pressure or manipulate older adults into giving up control over high-value assets for personal gain. They may insist that they need access to those assets to efficiently manage them in some cases. Other times, they may outright threaten a dependent parent who relies on them for basic needs to gain access to assets.
If other family members suspect that financial abuse has occurred, they can potentially address the matter in court. In some cases, they can ask the court to intervene by preventing the transfer of assets.
Other times, it may be possible to reverse transfers that have already occurred. Adult children with their parents’ best intentions in mind could even seek guardianship as a means of preventing ongoing financial abuse in some cases.
Reviewing questionable conduct can help concerned family members prevent abuses of older adults and inappropriate wealth transfers. Adult siblings sometimes need to hold one another accountable for questionable conduct motivated by greed.