Over the last few weeks, I’ve read a bunch of cases and articles in honor of Elder Abuse Awareness Month. Elder Abuse is becoming more and more prevalent, and something we all need to be aware of to protect our parents and elders as they age. One of the cases that stood out to me was Priscilla Presley, 79, who is in court alleging that she was defrauded of over $1 million by someone she once trusted. Not only is she a household name, but the story stayed with me because if it can happen to someone with her fame, wealth, and legal advisors…it can happen to anyone.
That’s why her story matters—it’s a powerful reminder that financial elder abuse is real, on the rise, and something we need to be on the lookout for.
How Financial Elder Abuse Really Happens
Presley’s case follows a common pattern. She alleges her former business associate, Brigitte Kruse, slowly gained her trust, isolated her from longtime advisors, and persuaded her to sign legal documents that ultimately gave Kruse and her associates control over Presley’s finances.
Whether you’re a Hollywood icon or a retiree in the burbs of Illinois… I’ve read to many articles or cases recently detailing stories out of Michigan, Downers Grove, Illinois, etc….where the strategy is always frighteningly similar:
1. They Build Trust
Abuse doesn’t begin with threats—it begins with charm. A predator may present themselves as a caring friend or helper. According to Presley, Kruse positioned herself as a loyal confidante—the one person she could trust.
2. They Create Isolation
Once trust is built, the next move is to distance the elder from family, friends, and professional advisors. Presley says she was encouraged to distrust her existing team—leaving her vulnerable.
3. They Take Legal Control
Finally, the abuser seeks to gain legal authority over their victim’s wealth — either through a modified Will/Trust, powers of attorney, financial account access, or business control. In Priscilla’s case, it involved management of her assets, but the most common cases result from modified estate planning documents that are signed under questionable circumstances. Typically involving an inexperienced or transactional attorney, who doesn’t spend the necessary time to realize what may be happening behind the scenes.
This is not rare. Once legal authority is turned over to bad actors, they have all the power to inflict financial damage. In fact, between June 2022 and June 2023, U.S. banks reported nearly $27 billion in suspected elder financial exploitation, according to FinCEN (the Financial Crimes Enforcement Network).
The Emotional and Financial Fallout
Financial elder abuse doesn’t just wipe out bank accounts—it fractures families and leaves emotional scars. When the abuse is finally uncovered, it’s often too late to recover the full loss. Even worse — many victims blame themselves, or don’t report what’s going on out of shame.
That’s why early planning matters — and not just any plan.
What Makes a Plan Truly Protective?
At Family Wealth & Legacy Legal Solutions (FWLLS), we approach estate planning differently. We don’t just prepare documents. We create Life & Legacy Plans designed to work when it matters most — when your loved ones are counting on it.
Here’s what sets our approach apart:
✔️ Clarity and Communication
A solid plan includes clear legal authority and open conversations with the people you trust. Everyone should know what the plan says, their role, and how it works — so no one can quietly override your wishes later in life. At FWLLS, we often conduct family meetings to review these important details and discuss implementation of an estate plan during our three year review meetings.
✔️ Regular Legal Checkups
Life changes. Relationships evolve. We build ongoing reviews into your plan (for free) to check in on our clients, ensure their assets are being managed properly, and that changes in their lives or the law don’t require an update to their plan. During these three (3) year meetings, we often have clients ask to involve their family, or advisors. We love helping families get aligned or even coordinate their estate plans. When our clients sign their estate planning documents, we always invite them to give us authorization to speak with their closest family, friends, and advisors, and we encourage people to notify our office if something happens to them, or seems off.
✔️ A Lawyer Who Knows You
Unlike traditional estate planning firms, we don’t disappear after the documents are signed. With FWLLS, you’ll have a trusted, ongoing relationship with your lawyer—someone who knows your story, wishes, and will be there for your family if concerns ever arise.
What You Can Do Right Now
You don’t need to wait for a crisis to take action. In fact, the best time to act is when you’re healthy, clearheaded, and surrounded by people you trust.
Here’s how to get started:
- Talk to your family. Let them know your values, your wishes, and who you trust. Transparency is protection.
- Stay in touch with your advisors. A CPA or lawyer who knows you personally is more likely to spot trouble.
- Watch for red flags. Anyone who isolates you from loved ones, pressures you about finances, or asks you to sign anything questionable should be treated with caution.
While financial elder abuse deserves urgent attention, it’s just one piece of a much larger conversation about how we support and protect our aging loved ones. Another equally important—though often avoided—topic is preparing for end-of-life. If you’re ready to explore that side of the planning process, our Guide to Starting End-of-Life Planning offers thoughtful, practical steps to help you navigate those conversations with clarity and care.
You Don’t Need to Be Famous to Be Targeted—But You Can Be Prepared
Priscilla Presley’s case is still unfolding, but the lesson is already clear: predators don’t discriminate. They target anyone they think they can manipulate.
With a plan rooted in trust, clarity, and accountability, you can make sure that never happens to you—or the people you love.
Let’s build that plan together.
Schedule an introductory call with our office today.
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This article is a service of Family Wealth & Legacy Legal Solutions (FWLLS). At FWLLS, we do not just draft documents; we ensure you make educated, informed and empowered decisions for yourself and the people you love. That’s why we offer a Family Wealth & Legacy Strategy Session™, during which you will get educated and begin to prepare to avoid life’s most common legal problems and get a plan in place to make the best possible choices for the people you love. You can begin by calling our office today to schedule a Family Wealth & Legacy Strategy Session and mention this article to find out how to get this $900 session at a significantly discounted rate, or even for free.