Author in the Room: Finances in the Older Patient with Cognitive Impairment

June 2011 Author in the Room® Teleconference

 

Author: Dr. Eric Widera

 

Article: "Finances in the Older Patient with Cognitive Impairment: 'He Didn't Want Me to Take Over'”

 

Summary Points:

  • Individuals with Alzheimer’s disease will have increasing difficulty with finances over time, and the very first signs of this difficulty will occur prior to the diagnosis of dementia, when they have only mild cognitive impairment.
  • Health care professionals, including physicians, should educate older adult patients and families about the need for advance financial planning and encourage the use of Durable Power of Attorney for Financial Matters.
  • Using objective information from performance-based financial tests can help decide whether, when, and in which financial areas families or caregivers need to assume proxy financial responsibility.
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