Lock down dementia
THE EXTENDED lockdown will make life even tougher for people with dementia, as social isolation can worsen conditions such as Alzheimer’s and make it even harder to carry out everyday financial tasks.
As well as loneliness, many with impaired mental capacity risk failing to pay important bills or falling victim to scammers.
The first lockdown saw more than eight in 10 dementia sufferers reporting a decline as a result of seeing fewer visitors, according to the Alzheimer’s Society, including memory loss and difficulty understanding speech.
This makes managing money even harder, and Sarah Coles, personal finance analyst at Hargreaves Lansdown, said families may have to rally round to make sure everything remains under control. “Sufferers can forget to pay bills, or pay them multiple times. They can get confused about what cash they have or fear somebody is stealing it. Most worrying of all, they can become a target for scammers,” she said.
If someone you love is suffering symptoms take action before it’s too late. Coles added: “It can be difficult to remember which bills they have paid and may pay more than once or miss
FAMILY FEAR: Loved ones can worry
payments altogether. Help them sort out direct debits and automate payments for their bills.”
You could also set up a third-party mandate or linked account to keep an eye on their spending. “It is a useful first step if they are not ready to hand over all of their financial decisions. Some businesses let you link accounts, which has a very similar effect,” she said.
Suggest they set up a cash book to note what they spend and a “safe place” to store their wallet when at home, to reassure them nothing has been stolen, Coles added.
Some will struggle to remember their PIN and may write it down so that it falls into the wrong hands. “Talk to your bank and arrange for them to have a card that lets them spend with their signature,” Coles added.
Consider setting up a Lasting Power of Attorney (LPA), which allows you to make key decisions if they lose mental capacity: “There are two kinds, financial and health, and it’s worth having both.”
If you wait until dementia has progressed you risk facing the cost and effort of going to court to gain the necessary authority as a deputy.
“This takes longer, costs more and will limit how much you can do for them,” Coles said.
Alzheimer’s and dementia can affect decision-making so the sufferer may buy things they don’t need or repeatedly make the same purchases.
Once you have an LPA, you can cancel credit cards and any overdraft facility to stop them running up debts.
You can also make it harder for scammers to approach them by setting up a block on their phone and cutting down on junk mail and nuisance calls by signing up to the Telephone Preference Service, the UK’S “Do Not Call” register, and the Mailing Preference Service.
When visiting, watch for suspicious signs, such as an increase in scam letters or junk mail, unexpected items piling up around the house or unopened bills.
Michael Culver, chair of the board at Solicitors For The Elderly, said consider taking legal advice when planning for dementia or other later life issues: “From finances to health to end-of-life care, the importance of later life planning cannot be stressed enough.”