Advice for the family caregiver in taking on the role of financial caretaker for your loved one with Azheimer’s Disease. The New York Times, November 6, 2010.
Family members need to plan and prepare to take on their new role as financial caretaker. For adult children, this is the realization of role reversal. You may need to handle mundane tasks like paying the bills, but you also need to take on a broader role as the “chief financial officer” for your loved one — in time, before the person’s incapacity causes a serious financial unraveling. In addition, you need to plan for broader end of life issues, implement a monitoring system, put in place proper legal documents such as a durable power of attorney, as well as create simplified routines for your loved one, and learn how properly and carefully to hire the help you will need to care for your loved one. Planning ahead and having the necessary conversation about money matters sooner rather than later is advisable. These matters must be handled delicately, taking into account the loss of self-esteem and possible depression that your loved one may be experiencing as a result of the loss of autonomy and capacity caused by encroaching dementia.
This article lists and discusses some strategies for the caregiver.
Read more at NY Times: Becoming the Guardian of a Parent With Alzheimer’s – NYTimes.com.