Elderly folk accept rorts to maintain family ties A lot of older people know they're being ripped off and are prepared to put up with it, to a certain point. Many elderly people put up with their children siphoning off their money because they don't want to jeopardise family relationships by confronting them, according to new research. Research involving more than a decade of interviewing older people, public trustees, social workers and aged care staff has been released by the University of Queensland. "A lot of older people know they're being ripped off and are prepared to put up with it, to a certain point," Professor Jill Wilson said in a seminar called Minding the Money: Families and the Management of Older People's Assets at the Australian Institute of Family Studies this week. "Older people get frail and more isolated," Professor Wilson said. A large part of their [social circle] is their family. They'd do anything not to jeopardise those relationships. Calling their kids to account for helping themselves to their money is not going to do the relationship any good. More than half of the 500 calls made to the NSW government's Elder Abuse Helpline since February relate to financial abuse, followed by neglect and physical abuse. And according to the Elder Abuse Prevention Unit in Queensland, adult children in their 50s are the most likely perpetrators. Those aged 80 to 84 are the most likely victims. The researchers said elder financial abuse is partly attributable to the "entitlement mentality," where people consider their parents' financial assets their inheritance. "People say 'I'll just use mum's money to buy a house at Byron Bay because she'd want that - not that mum in residential care will ever go near that Byron Bay house," Professor Wilson said. Rising property values have also changed people's perceptions. "Suddenly the fibro shack on the beach becomes millionaires' row," University of Queensland associate professor Cheryl Tilse said. A quarter of Australians help an older person manage their financial assets, usually the adult children, with technology making it easier for people to take over the management of their parents' money. "A lot of it is done through net banking and a lot is not very visible in terms of decision making," Ms Tilse said. NSW Elder Abuse: 1800 628 221.