Freeths supports ‘Spot the signs’ campaign

The campaign follows concerns from STEP members that financial abuse is both widespread and increasing, with 70% of UK practitioners witnessing cases of actual or suspected abuse. Over 40% have reported a rise in instances over the last two years, and 82% anticipate growing demand for mental capacity advice. Hidden financial abuse is particularly concerning, often remaining undiscovered until after the victim’s death.

As an ambassador, Freeths’ Partner and Joint National Head of Trusts, Estates & Tax Louise Lewis is dedicated to raising awareness of this issue and equipping people with the knowledge to protect loved ones at risk.

Louise Lewis said “I am honoured to be representing STEP and highlighting the risk of financial abuse – something I witness so many times with clients. We’re hoping to help limit this risk by educating people of the crucial signs to look out for. As a firm that values its people, with its people being front and centre of what we do, STEP heavily aligns with our Freeths values, and it is an honour to contribute to pushing out this initiative.”

She encourages individuals to visit www.step.org/spot-the-signs to learn more about recognising and preventing financial abuse. Warning signs include missing funds, sudden changes in financial control, unpaid bills despite available funds, and unexpected asset transfers.

Financial abuse can take many forms, such as coercion into changing a will, fraudulent use of power of attorney, predatory marriage, and exploitation of vulnerable individuals for financial gain. Through this campaign, Freeths and STEP aim to empower individuals to identify and prevent such abuse before lasting damage occurs.