Planning Ahead

 

Alzheimer’s affects people differently. One person may begin to lose the ability to handle money matters or make competent business decisions at an early stage, while another may keep these skills much longer. However, sooner or later, the abilities of all people with Alzheimer’s will decline and they may be unable to make their own decisions about their financial and legal matters.
Planning ahead can save a lot of pain, hassle, and friction later on.
Planning ahead can make it easier for families and carers to manage the affairs of the person with dementia. Planning ahead also means that the person with dementia will be able to participate in the planning to make sure their wishes are carried out.
In addition, it is important to plan ahead while the person with dementia can still participate in the discussion and planning, and is still legally competent to sign any documents.

Bank Accounts and Money

If a bank account is in joint names, the partner of the person with dementia can continue to operate it without any change in arrangements. However, problems can occur if the person with dementia uses the account inappropriately or has accounts in their name only.

To avoid these difficulties, the person with dementia can give authority, to another person to operate the account. Such an authority will only be valid if the person is legally competent.

Some of the other activities you should consider are :

• Having joint signatures on all bank, building society and credit union accounts.
• Discussing financial affairs with a financial adviser.
• Arranging how and when a person with dementia can access their finances.

A bank manager, solicitor, or financial adviser can help advise you on these matters.

Power of Attorney

A Power of Attorney enables another person to act on your behalf in financial, property, and other matters

A person can only sign a Power of Attorney if they are legally competent at the time of signing. An Enduring Power of Attorney is a legal arrangement for another person to look after their financial affairs.

Many people set-up Powers of Attorney regardless of any illness or diagnosis. However, most Powers of Attorney are setup so that someone else can manage your financial affairs if you should become unable to do so yourself.

One of the benefits of a Power of Attorney is that it allows the person with dementia to choose someone to act on their behalf when, in the future, they are no longer able to do so themselves.
The Power of Attorney document should be filed in a safe, secure place.
A solicitor can help set-up a Power of Attorney, and advise you on these matters.

Wills

A will gives instructions as to how the estate of a deceased person should be distributed. A will is only legal if the person making it understands its implications, so it is essential that wherever possible, the person with dementia makes, or updates their will while they are still legally competent to sign.
The will should be filed in a safe, secure place.
A solicitor can help set-up a will, and advise you on these matters.

Guardianship and Administration

In many parts of the western world, a court or tribunal exists which can appoint a guardian or administrator for a person who is no longer able to make decisions for themselves.
If there are problems dealing with the affairs of the person with Alzheimer’s, or if there is conflict in the family about the person’s best interests, an application for the appointment of a guardian or an administrator may need to be considered.
Contact any Alzheimer’s Associations in your country to discuss how and where such an application may be lodged.

Scientists do not yet fully understand the causes of Alzheimer’s

disease. There probably is not one single cause, but several

factors that affect each person differently.

Recent studies indicate that amyloid beta protein may cause
Alzheimer’s disease. In healthy people, this protein can cross
the blood-brain barrier (the wall of blood vessels that feed the
brain and regulate the entry and exit of brain chemicals) and
leave the brain. In people with Alzheimers disease, amyloid beta
protein can’t pass through that barrier. As more amyloid beta
protein accumulates in a person’s brain, they become more and
more mentally disabled.

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