Arne Boudewyn, family governance and education advisor at Callan Family Office, recently spoke with InvestmentNews about how the most effective protection against elder financial exploitation begins before there are any concerns about diminished capacity.
Practical safeguards — trusted contacts, clearly defined decision-making authorities, periodic reviews of estate documents, coordinated oversight among advisors — are necessary but not sufficient. The most resilient families, Boudewyn has observed over more than two decades of work with ultra-high-net-worth clients, are those that have intentionally prepared for governance transitions through ongoing communication, education, and thoughtful succession planning.
“When these conversations occur early, older family members are able to retain their dignity, voice, and autonomy while gradually sharing responsibilities with trusted successors as circumstances evolve,” Boudewyn said.