Two in five principals had appointed decision-makers who showed risk factors for
perpetrating elder abuse
l
l
l
l
Compared to appointed decision-makers, principals were more likely to believe there is no risk
involved in having an FEPOA (16% of principals compared to 5% of appointed decision-makers).
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).
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.
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%).
7.1 Principal considerations
Principals generally first heard about the idea of an FEPOA through their family or friends (27%), or a legal
professional (25%).
Q20
Figure 28 – How principals first heard about FEPOAs
Family or friends
27%
Legal professional
25%
Healthcare professional
8%
Financial professional
8%
Government website or publication
6%
Social media
5%
Community organisation
3%
Media (e.g. TV show, radio, article, podcast, etc.)
3%
Estate planning workshop or seminar
2%
Other
3%
Not sure
8%
Q.20. How did you first hear about the idea of a FEPOA?
Base: All principals n=537
Before creating an FEPOA, half (52%) of principals sought professional advice and a similar portion (52%)
discussed it with the person they wanted to appoint.
Two-thirds of principals (62%) considered who they would appoint as a decision-maker when organising their
FEPOA. Only around a third (27%) thought about whether to set limits or conditions in their FEPOA, or when
the FEPOA would start (34%) and end (18%).
40
Empowering futures: A national survey on the understanding and use of financial enduring powers of attorney