The warning signs of predatory marriage – Mike Armstrong and Sophie Wilson write for FT Adviser
Mike Armstrong and Sophie Wilson share their advice on how to protect vulnerable individuals against predatory marriage in a recent article for the FT adviser.
Predatory marriages are a form of financial abuse where an abuser targets and marries a vulnerable person (often elderly), with the intent of financial gain principally upon the person’s death. This issue is particularly concerning for the 944,000 individuals in the UK living with dementia, who are particularly at risk.
A predatory marriage will revoke a vulnerable person’s will, (unless a contrary intention is expressed in the document), allowing the predatory spouse to become the principal or sole beneficiary of the vulnerable person’s estate after death. This not only causes financial harm but also allows the abuser to control arrangements including the funeral, which can be particularly distressing for the family.
Advisors should be vigilant for warning signs such as relationships with previously unknown individuals, significant age gaps, wealth disparities, and a desire to keep the relationship secret. Prompt action is essential, as these marriages often occur in secret and cannot be challenged after one party has died.
Read the full article here to learn more about the steps you can take to protect your family members and clients.
