Financial abuse, mental capacity and LPA reform

In this latest episode of Today's Wills and Probate host David Opie is joined by Giles Wilson Founder and Managing Partner Melinda Giles. With over 25 years experience in private client, Melinda brings a wealth of experience to a discussion which considers her expertise in financial abuse and associated issues with capacity; alongside reform and her own challenges running a successful law firm. For Melinda, financial abuse is simply "not well understood" by the powers that be. "Financial abuse is a soft word for stealing, it is a crime. Taking money from people who are vulnerable and it is often tied up with emotional abuse" says Melinda, who passionately explores the topic in the course of the discussion. In her role at The Law Society she is currently working with the Wills and Equity Committee on LPA reform, which she describes as needed, but "risky," saying that there is a balance between the diminishing advice around LPA's and the focus on the digitisation. "None of us are against modernisation, (the current LPA process) requires improvement, but it is the risk to the vulnerable that is of concern."She also discusses lobbying government to improve court servicesconsidering the wider opportunities with the extension of digital signing of willsthe recognition of digital assets in estate planning. In her own role as Managing Partner of Giles Wilson she discusses the changing nature of managing a law firm. In July 2022 the firm established an Employee Ownership Trust, empowering the staff to play their part in the ownership and future of the firm. And she discusses the ever-evolving challenges in private client work and the need to be prepared for increased "unbundling" of legal services. The Today's Wills and Probate podcast is available on your preferred podcast provider, and at www.todayswillsandprobate.co.uk. Subscribe today to hear all the latest news and views across the wills and probate sector.Thank you to our podcast sponsors LEAP Estates, Estate Research, Property Ladder Group and Finders International.