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Older Australians warned to be on lookout for will and estate scams

Aug 19, 2024
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"There are a variety of ways fraudulent activity may occur during the preparation or execution of a will." Source: Getty Images.

Police are urging older Australians to be vigilant against scammers who are preying on vulnerable individuals by falsifying will and estate documents.

New South Wales (NSW) Police issued the warning following reports of allegedly forged wills in the Illawarra community earlier this year and are continuing their investigation.

They are advising older Australians and their families to take precautions to protect themselves from will and executor fraud.

“There are a variety of ways fraudulent activity may occur during the preparation or execution of a will, including where false, fabricated or misleading statements are created or used to give a person who is not the rightful beneficiary a financial benefit,” a statement from NSW Police said.

“Will fraud can occur when misleading or deceptive conduct is used when preparing a will.

“Executor fraud can occur when an executor – who is a person appointed to administer an estate – uses deceitful practices to gain estate assets for themselves or for someone who is not the rightful beneficiary.”

Estate fraud can also occur when someone signs a will that is a different document to the one they intended to sign, or a person signing a will when they limited mental capacity, or when an executor pays themselves advances or unreasonable expenses from the estate.

NSW Police said they wanted the public to contact them immediately if they think they, or a vulnerable person have fallen victim to will or executive scams.

If you believe you or a family member has been a victim of will or executor fraud, you can report it to local police or Crime Stoppers on 1800 333 000.

For those who want to stay one step ahead of scammers and protect their personal information, the National Anti-Scam Centre suggests the following precautionary measures to avoid falling victim to such malicious activity.

STOP – Don’t rush to act. Hang up on anyone requesting you download software or an app over the phone.  Never provide banking information, passwords, or two-factor identification codes over the phone.

THINK – Ask yourself if you really know who you are communicating with? Take the time to call the business you are dealing with using independently sourced contact details or verify the contact through their secure app.

PROTECT – Act quickly if something feels wrong. If you have shared financial information or transferred money, contact your bank immediately. Help others by reporting to Scamwatch

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