New research from the Society of Trust and Estate Practitioners (STEP) suggests that families managing a loved one’s money may be committing financial abuse without realising it.
Findings from the latest STEP Barometer suggests that in the UK adult children are the most common perpetrators of financial abuse, although most of it may be unintentional.
The results reveal that 87% of UK legal practitioners name adult children as the most common perpetrators of financial abuse against their older, vulnerable family members. Other perpetrators identified in STEP’s research were caregivers, including private carers and care homes (28%) and other relatives (27%).
The research found many families do not realise they are doing anything wrong. According newly released figures from the City of London Police one in five reports of fraud by people in a position of trust involved the misuse of a power of attorney in 2025/26. Nearly one in ten reports mentioned dementia. Almost nine in ten practitioners point to a lack of public understanding of what it means to be an ‘attorney’ said STEP, who also cite separate consumer research which found that almost one in ten UK adults (9%) believe that providing care to a family member entitles them to a greater share of the inheritance.
Holly Miéville-Hawkins, non-member partner in the Court of Protection team at Anthony Gold Solicitors, said: ‘Often attorneys are family carers doing their best in difficult circumstances.
“Some attorneys feel they have earned a share of their parent’s money by providing care, but may not realise that covering their own bills, or meeting a grandchild’s school fees during a hard month, can be a form of financial abuse. In my experience, such decisions are often do not come from a place of dishonesty. Many people simply do not know they have crossed a line.”
The research also showed only one in five (22%) consumer are confident they can spot the signs of financial abuse. Just 12% believe they may have seen instances of financial abuse,14% would know who to contact for help, and 10% of UK adults would not report a close family member if they suspected they were stealing small amounts of money. The findings suggest financial abuse can “remain hidden within families, particularly where relatives are unsure what constitutes abuse, reluctant to report a family member, or misunderstand the responsibilities that come with managing another person’s finances” said STEP.
The STEP Barometer 2026 is research involving more than 500 legal, financial and wealth practitioners around the world, also taking on the views of more than 6,000 people from the UK, Singapore and Australia.
