- Strategies to manage finances
- Professional and family support with financial matters
- Putting financial supports in place
- Preventing exploitation
As your dementia progresses you may need to rely on others for support and guidance. Experiencing challenges dealing with numbers is not uncommon, even when you start to experience symptoms of dementia. It is a good idea to talk with family members about your financial health and well-being. There are also many professionals in the community who can provide you with assistance.
Frequently asked questions
Is it a good idea to consult an accountant? Click for answer
Yes. An accountant can give you advice on division of assets, planning for the future and tax saving tips for caregiving expenses. This should be done in the early stages of the disease.
Source: The information above was compiled with permission from Alzheimer Society Peel. (n.d.). Your guidelines to "A journey through care". Ontario, Canada: Alzheimer Society of Peel.
Who can I contact if I have questions about financial planning or legal matters? Click for answer
For information on financial planning or legal matters, you can contact a solicitor, lawyer, financial advisor or community legal service. Also, many financial institutions such as banks have financial advisors who can help you with financial planning.
How can I protect my assets? Click for answer
It would be a good idea to gather important documents, such as wills, birth and marriage certificates, mortgage documents, insurance policies, Registered Retirement Savings Plans, pension plans, investments, ownership of home documents, car ownership, real estate documents, business ownership and other documents, and Power of Attorney forms. Make sure these documents are kept in a safe place and make sure someone you trust knows where these documents are. This step will help ensure your assets are protected.
Sources: The information above was compiled with permission from Alzheimer Society of Canada. (n. d.). Shared experiences: Suggestions for those with Alzheimer’s Disease. Ontario, Canada: Alzheimer Society of Canada.