As populations in developed countries age and diseases such as Alzheimer’s take their toll, the need to protect older people’s financial affairs becomes more urgent.

Complaints about alleged financial misconduct by attorneys acting under a Lasting Power of Attorney (LPA) reached a record 11,910 in the year to 31 March 2026, according to Ministry of Justice figures obtained by TWM Solicitors, a law firm in the south of England.

That figure is up 16 per cent from 10,240 in the previous year and 25 per cent from 9,538 the year before. Over the same period, the Court of Protection revoked or partially revoked the authority of just 263 LPAs.

TWM, a UK private wealth and family law firm, obtained the data from the ministry. An LPA lets a donor appoint someone to make decisions on their behalf if they lose capacity. Depending on its type, that can include running bank accounts and selling the donor's home.

Attorneys are usually family members or friends rather than professionals, and they need no qualifications or financial expertise. Stuart Downey, partner and head of will, trust and estate disputes at TWM, said problem cases range from outright fraud to negligence. Fraud includes unexplained withdrawals, transfers of assets to the attorney and forged signatures. Other cases involve selling the donor's home below market value or cutting the donor off from family to conceal mismanagement.

The topic has been highlighted by the saga of renowned British explorer, Sir Ranulph Fiennes, after family and friends called for an investigation into his care arrangements. It is alleged that he has been illegally placed in a series of care homes under a fake name by his wife. Those close to the 82-year-old want the Office of the Public Guardian (OPG) to establish whether his wife Louise Millington-Cotes, 59, is correctly discharging her duties as his legal guardian. Sir Ranulph’s stepson Alexander Millington-Cotes is reportedly crowdfunding a legal challenge to his mother’s lasting power of attorney.

As populations in developed countries age and diseases such as Alzheimer’s take their toll, the need to protect older people’s financial affairs becomes ever more urgent. At a recent conference, this publication heard that the number of HNW and UHNW wealth holders who are suffering from cognitive decline is significant, and growing.