How to Safeguard Your Inheritance From Estate Hijacking

Even if you’ve never heard the phrase “inheritance hijacking” or “estate hijacking,” you can still probably guess what they both mean. Estate hijacking occurs when someone steals an inheritance that was meant for someone else. This might seem extreme or difficult to pull off, but it does happen. Keep reading for more of what estate hijacking entails—as well as how to protect yourself and your loved ones from it. 

Common Types of Estate Hijacking

Unfortunately, there are many different ways someone can hijack an inheritance, so it’s important to be aware of the most common. 

Undue Influence

If you keep up with our blog, you’ll have heard this term before. It’s not unheard of for an unethical person to become close to an older adult in the hopes they can get a cut of their inheritance. It’s also quite common with people who have terminal illnesses. In the majority of cases, this influence will come in the form of convincing them that they deserve some of their money, or even spreading gossip or lies about other heirs. In extreme cases, the person may even threaten the individual. 

Undocumented Loans

When a family member needs a loan, it’s not always documented. They’re family, right? Unfortunately, this can come back to haunt you. If an elderly or ill person loans money to a family member and it isn’t documented properly, that family member could later claim that the loan never happened. The other heirs might not even realize what money is missing, and won’t know whether or not to believe the family member. 

Abuse of Power of Attorney

As previously mentioned, estate hijacking usually occurs with an older adult or someone who’s seriously ill. These people are much more vulnerable to this type of theft. Because of this, many people will give someone they trust power of attorney. This person has a legal obligation to handle things properly and within the individual’s wishes—but, of course, that doesn’t always happen. 

Theft

While a lot of these kinds of estate hijacking involve trickery and manipulation, some people turn to outright theft. It’s possible for burglars to target the obituary section of the newspaper but, more often than not, the thief is someone the deceased person knew. This person might steal valuables like jewelry or antiques before, during, or after the funeral. Usually this action is motivated by the thief feeling like they should have received inheritance but didn’t or weren’t going to. 

How to Protect Yourself from Estate Hijacking

Unfortunately, there’s no way to know people’s true natures until they come out. You can, however, do everything in your power to keep things above board and according to the decedent’s wishes. To avoid leaving you or your family member open to foul play, it’s always best to consult with a professional attorney who specializes in estate planning. Contact Kristin Waters Sullivan today to set up a consultation, and make sure your legacy is protected.