Protecting your finances and property is important to prevent financial abuse or exploitation.
Here are some practical steps you can take:
Banking and paying bills
- Keep regular contact with your bank, credit or financial institution, financial planner, or accountant. Keep you bank card and PIN private and do not share them with others.
- Set up automatic payments for bills like telephone or utilities from your bank account.
Seek advice on financial matters
- Get independent advice before signing any documents, co-signing loans, or transferring ownership of your home.
- Read all legal documents carefully, including the fine print, and seek advice if you do not understand something.
- Pause and seek advice if you feel pressured, before signing any document or doing something you do not agree with.
- Take your time to understand forms before signing, especially after health changes.
- Stay involved in your financial decisions.
Get it in writing
- Clearly state in writing that borrowed property or materials should be returned, unless it is a gift.
- Create a formal payback schedule if you lend money, unless it is a gift.
Keep your valuables secure
- Keep your home secure and avoid leaving valuables lying around.
- Store valuables securely.
- Keep the location of your money at home private.
Look after your important documents
- Complete a Will, Enduring Power of Attorney, and an Advance Care Directive. Find out more about Planning Ahead to safeguard your future rights.
- Update your documents yearly or as relationships or circumstances change.
- Store copies of these important documents in a safe, easily accessible place.