Preparing to assume responsibility for a parent’s finances can be a tricky situation. Research shows executive function is often the first sign of memory loss, evidenced by difficulty with simple calculations, maintaining account balances, and paying bills. Eventually a parent with dementia will no longer be capable of any financial responsibilities.
Unfortunately, most families of a parent with dementia will not be prepared in advance to take over the finances. My next Gannett column will address having difficult conversations with parents about financial, legal and medical matters.
In the meantime, here is an excellent article from CNBC.com that describes six steps to take when faced with a parent who needs help with their finances.
Dementia Care Expertise for Health Care Providers 