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Admiral Nursing DIRECT is our national dementia specialist helpline and email service,
Setting up a Third Party Mandate, Lasting Power of Attorney or appointing a Deputy
Dementia Connect (DC) is Alzheimer’s Society’s online services directory for anyone affected by dementia.
When a family member is managing your money for you, or for another family member, concerns can crop up. Often the problems can be easily sorted out.
Even if you’re able to manage your money yourself now, it can be worthwhile thinking about who’d help you if you couldn’t do it any more.
Dementia UK provides helpful guidance on services and support for carers and for people living with dementia.
Arranging to formally manage someone’s money for them is a big step – both for you and the person you’re helping. It means that at some point, now or in the future, you could have complete responsibility for their finances and their interests.
It’s essential to plan for how your money should be handled in the event of an illness or death. Good planning will help make sure you or your family are ready to meet any of the costs that might arise. It will also allow you provide for your loved ones and ease the burden on them.
It can be a real worry to think that a person responsible for someone else’s money might be doing something wrong, or might not be competent. You need to resolve the problem – whether it’s clarifying a misunderstanding, or taking action.