8. Despite generally positive experiences, principals and appointed decision-makers are also aware that there are risks and negative consequences associated with FEPOAs. a. Principals generally had high confidence that their appointed decision-maker would look after their finances in line with their interests and preferences, and two in five felt content (42%) and/ or in control (41%) of their FEPOA arrangement with their appointed decision-maker. b. However, most principals and appointed decision-makers understood that there are risks involved with having an FEPOA, with the three biggest risks identified being misuse or theft of the principal’s money (39%), conflict within the family (35%) and that the appointed decisionmaker goes against the principal’s wishes (33%). c. One in ten principals and appointed decision-makers (9%) had experienced negative consequences from an FEPOA first-hand. d. A quarter of principals (24%) have (or have wanted to) change or cancel their FEPOA, most often due to a change in relationship with the appointed decision-maker or concerns about them or their ability to perform their role. 9. Two in five principals had appointed decision-makers who showed risk factors for perpetrating elder abuse. a. 37% of principals had appointed decision-makers who displayed characteristics that have been identified as risk factors for perpetrating elder abuse (e.g. substance abuse, financial or emotional dependence, gambling addiction etc). b. While principals were somewhat cognisant that these circumstances could pose a risk to them or their appointed decision-maker’s ability to perform their role, a quarter (25%) felt the circumstances did not pose a risk at all. c. Worryingly, a significant proportion of principals do not have someone they would feel comfortable talking to if they had concerns about their appointed decision-maker (29%). 10. Legal professionals, and others in the community, have a key role to play in improving awareness, use, knowledge and in providing support around FEPOAs. a. Most Australians preferred information about FEPOAs to come from legal professionals (63%). b. Principals generally first heard about FEPOAs through family or friends (27%) or a legal professional (25%). c. The most common reason cited for creating an FEPOA was to plan for the future (41%), but many were encouraged to create one after a professional (26%) or a family member or carer (25%) suggested it. d. Principals who reported that they have someone they would feel comfortable talking to if they had concerns about their appointed decision-maker were most likely to feel comfortable talking to legal professionals (60%) and friends/family (58%). Chapter : 2 Executive summary 11