Dementia and Money

Posted on November 18, 2010


When your elderly relative begins to develop dementia, and is foggy on matters involving medical issues, money, or legal matters, sometimes it is contingent upon you to file to become a guardian.
This will involve going to court, and proving that the senior is incapacitated, and not competent to handle their affairs. This involves filing a petition requesting the appointment of a guardian, and then the court will grant a hearing to decide if the old person is really in need of such supervision. There may be an appointment of a guardian ad litem, which is a representative that evaluates the abilities and competencies of the elderly person.
As a guardian you will be supervising where your ward lives, all health care issues, and finances. You’ll have to do all accounting and/or bookkeeping matters in concern with their finances, as well as making end-of-life decisions, and look after all other matters involving your elderly relative.

See Axsmith Law website for more information about elder law and protecting the rights of the elderly.  Another helpful website is AARP.