June is Elder Abuse Awareness Month, and a recent headline is highlighting just how urgent this issue really is. At age 79, Priscilla Presley is in the middle of a lawsuit, claiming she was defrauded of over $1 million by someone she once trusted. Yes – Priscilla Presley. A celebrity with access to advisors, attorneys, and wealth management professionals.
If it can happen to her, it can happen to anyone.
This case is a stark reminder of how common – and insidious – financial elder abuse really is. It can begin quietly, even under the guise of help or friendship, and escalate before anyone sees it coming. But with proactive, relationship-based Life & Legacy Planning, there are powerful ways to prevent it.
Let’s take a closer look at what happened in Presley’s case, how elder financial abuse typically unfolds, and how the right legal planning can protect your loved ones.
The Pattern of Elder Financial Abuse
While every situation is unique, cases like Presley’s tend to follow a familiar – and dangerous – pattern:
1. Gaining Trust
The abuser often starts as a “helper” or “confidant,” offering support and building a close bond. In Presley’s case, her former business associate allegedly positioned herself as someone Priscilla could rely on – someone looking out for her.
2. Creating Isolation
Next comes distance from longtime advisors, family, and friends. Reports claim Presley was encouraged to distrust her closest allies – an intentional move to cut her off from those who might have raised red flags.
3. Taking Legal Control
The final step? Gaining access. Presley alleges she was convinced to sign legal documents – including powers of attorney – that gave control over her financial affairs. From there, the accused was able to access and drain her funds.
It’s devastating. But it’s not rare.
In fact, banks flagged nearly $27 billion in suspicious elder financial activity between June 2022 and June 2023 alone. And that’s just what was reported.
Why This Should Matter to Every Family
This issue doesn’t just affect celebrities or the ultra-wealthy. It’s affecting everyday families – quietly, painfully, and all too often.
The damage caused by elder financial abuse is real:
- Financial Ruin – Entire life savings, retirement accounts, and even homes can be lost.
- Emotional Pain – Victims often feel embarrassed, ashamed, or afraid to speak up.
- Family Conflict – Trust breaks down, loved ones turn against each other, and the real abuser can remain hidden for far too long.
This is why I don’t just offer standard estate planning. I offer something more comprehensive – and more protective.
What Makes Life & Legacy Planning Different
Unlike traditional estate plans that sit in a drawer and collect dust, Life & Legacy Planning is designed to actively protect your assets, your voice, and the people you love. It’s not just a set of documents – it’s a relationship and a strategy for long-term protection.
Here’s how it works:
Clear Legal Authority and Communication
Your plan will clearly identify who can make decisions on your behalf and under what circumstances. But it doesn’t stop there – we also make sure your loved ones understand the plan so no one is left confused or vulnerable.
Built-In Review and Oversight
We don’t just “set it and forget it.” Life evolves – and so should your plan. We schedule regular reviews to keep everything current and to catch signs of manipulation or concern early on.
Trusted Legal Partnership
As your attorney, I’m not just here for the documents. I’m here for the long haul. My ongoing relationship with you and your family means I’m in a position to help if something ever feels “off” – and your loved ones will know exactly who to call for guidance and support.
Take Action While You’re in Control
Here’s the truth: the best time to build these protections is before a crisis. While you’re healthy. While you’re sharp. While you can choose the people you trust – and put legal safeguards in place that no predator can override.
If you’ve been meaning to get your planning done – or if you’re concerned about an aging parent or loved one – don’t wait.
Here’s what you can do today:
- Start the conversation – Talk to your loved ones about your wishes and how you want them to help if something seems wrong.
- Connect with your advisors – When your legal, tax, and financial professionals know you well, they can help spot red flags.
- Trust your instincts – If someone is overly interested in your finances or tries to isolate you from others, speak up.
You Deserve a Plan That Protects What Matters Most
Priscilla Presley’s story is still unfolding in the courts, but it’s already teaching us something important: no one is immune to elder financial abuse.
But with thoughtful, proactive planning, we can reduce the risk – dramatically.
At Cheever Law, we don’t just draft documents; we ensure you make informed and empowered decisions about life and death for yourself and the people you love, starting with a valuable and educational Life & Legacy Planning Session. This will allow you to get more financially organized and make the best choices for the people you love. If you have already completed your estate plan, we will review that plan at your Life & Legacy Planning Session to ensure that it will work the way you intend and address any holes or gaps that may be present if circumstances have changed since you executed your plan.
To learn more about our one-of-a-kind systems and services, contact us or schedule a no-obligation 15-minute introductory phone call today.