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How can I help a loved one who has Alzheimer's manage their finances?

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You’ll need to plan for the cost of care, pay bills, arrange benefit claims, make investment decisions, and prepare tax returns. These can be touchy issues, since the person with Alzheimer’s has to hand over control and fully trust your judgment. And money can be a great divider of families.

Your loved one can sign over durable power of attorney, giving you the right to make financial choices on their behalf. You can also hire a trusted third party: a CPA, family banker, estate planning attorney, or financial planner. Don't forget to put this in the computer file and thumb drive. The data should include who has Power of Attorney, along with any advance directive or living will.

SOURCES:

Alzheimer’s Association.

Hurme, S. , ABA, 2015. The ABA/AARP Checklist for Family Caregivers: A Guide to Making it Manageable

AARP.

Aging Care, LLC.

American Academy of Family Physicians: “Advance Directives and Do Not Resuscitate Orders.”

Reviewed by Richard Senelick on June 08, 2017

SOURCES:

Alzheimer’s Association.

Hurme, S. , ABA, 2015. The ABA/AARP Checklist for Family Caregivers: A Guide to Making it Manageable

AARP.

Aging Care, LLC.

American Academy of Family Physicians: “Advance Directives and Do Not Resuscitate Orders.”

Reviewed by Richard Senelick on June 08, 2017

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