Dementia vs Credit Cards

Author

Arden Courts

For more information about the author, click to view their website: Arden Courts

Posted on

Jul 20, 2023

Book/Edition

Florida - Sarasota, Bradenton & Charlotte Counties , Florida - Southwest

Share This

There is no question that people with dementia related diseases will eventually develop a problem in regard to dealing with their daily finances. In my father’s case it was the first sign to me that something was very wrong.

Throughout the years it had always amazed me how he never needed to use a calculator. He could do complex math equations in his head like a bona fide mathematician. But suddenly I began to notice that he couldn’t even balance his checkbook correctly.

Complications in money managing are a common early sign of dementia. Trouble counting change, stacks of unopened bills or excessive purchases on credit card statements can tell the tale. Unfortunately, this may not be noticed until there is a large amount of debt already accumulated. This is due to their short-term memory loss.

Sadly, there are thousands of deceitful people just waiting for the chance to take advantage of those who are memory impaired. Telemarketers, charity scams, health care scams and even door-to-door solicitors can be absolutely brutal to anyone who becomes easy prey.

Things to be on the lookout for are large numbers of packages being delivered, sudden changes in their bank account balances and overdue bill notices.

One option may be to re-route their mail to a post office box so you, the caregiver, can have a firsthand look at what’s going on. But you may also find, as I did, that there is rarely any time to go and retrieve the mail.

Try switching out their credit cards with prepaid ones and only let them carry around small amounts of cash. With my father, I always tried to make sure he had some money in his pocket. This way it kept him feeling as if he still had some kind of independence. Although, he was always trying to pay someone for their services, even if he did not owe them a penny. This included Hospice nurses that came to the house. Well actually, most of the time he would just tell me to pay them.

Now, what if you find out that they have already accumulated a $10,000.00 credit card debt? Request a copy of a free credit report with their name on it. This will show you when these accounts were actually opened. If they are newer accounts that have been acquired after the symptoms of dementia have started, these accounts may not be valid. A person must be fully competent and in sound mind when signing a contract. Also check to see if they signed up for credit card insurance. This would be quite helpful in dealing with the pay-off.

Have their doctors write a letter stating that they are permanently cognitively impaired and approximately when their symptoms began. If they are residing in an adult care center, have the administration write a letter verifying that they are now under their care.

Take some comfort in knowing that Social Security funds cannot be garnished for credit card debt. However, pensions and personal savings are vulnerable.

If this all boils down to you having to appear in court on their behalf, you’ll want the judge to review these documents. And if you haven’t already consulted with an Elder Law Attorney, I suggest you do so right away. Whatever fees you have to pay the attorney will surely make up for the outcome if you don’t have the correct legal advice.

This is why it’s so important to have someone that’s trustworthy appointed as Durable Power of Attorney early on.

As the Power of Attorney, it is vital to get in that strict habit of placing P.O.A. at the end of your signature every single time you sign something on their behalf. This will protect you. Also, realize your rights as a P.O.A. will cease to exist the very moment they take their final breathe.

We must be ever diligent when seeking to protect our loved ones afflicted with this devastating disease. There truly are vultures perched on every corner just waiting for the right moment to swoop in!

 

Other Articles You May Like

Term vs Perm: Which is right for you?

 If youve been thinking about life insurance, especially if you have family, loved ones, or anyone who depends on you financially, you might be curious about the different kinds of policies available. Which type is right for you?Essentially, you can look at two main categories of life insurance: term and permanent.Term insurance is a pay-as-you-go option that covers a specific amount of time, usually 20 years or fewer. Term insurance benefits are paid to your beneficiaries free of federal income taxes if you pass away during the coverage period, but theres no opportunity to build cash value.Permanent insurance, such as whole life or universal life, offers coverage for as long as you pay the premiums, and in addition to providing a tax-free death benefit, also offers a chance to build equity, or cash value, on a tax-deferred basis.When determining which type of insurance is appropriate for your needs, youll want to consider these factors: Cost  Term insurance is generally affordable for most people, which is why it may be particularly suitable for parents and young adults who may be at the beginning of their careers. Permanent insurance is typically more expensive, largely because it is meant to last for one's lifetime and some of the premiums go toward building cash value in the policy and paying for other features. Generally, the younger and healthier you are when you purchase permanent insurance, the lower your rates will be. Length of time insurance is needed  If you think you will only need life insurance for a certain period perhaps until your children are grown you might lean toward term insurance. If you feel the need for life insurance for other goals throughout your lifetime, for whatever reason you might have a special needs child, or perhaps you want to use your policy to help pay for retirement, or you wish to include the policy as part of your legacy and estate plans you may want to consider some type of permanent insurance. Investment preferences  You may have heard the phrase buy term and invest the difference. Essentially, this just means that an investor could purchase low-cost term insurance, and then invest the money that was saved by not getting permanent insurance. This can be a valuable strategy in some situations, but people often dont actually invest the difference. A permanent insurance policy, through the payment of premiums, may result in a steady buildup of cash value or continued contributions to the policys investment components. For many people, this discipline is helpful. Future insurability  If you have health issues, it could become difficult to get permanent insurance after youve reached the end of a term insurance policy. (Some term insurance policies do offer the opportunity to convert to permanent coverage, usually without the need for a medical exam.) You could avoid this potential problem by purchasing permanent insurance when you are still young and healthy.Ultimately, you will need to weigh the various factors involved in the permanent-versus-term decision. You also might benefit from consulting a financial professional, who can evaluate which type of insurance is most appropriate for your situation. But whether its term or permanent, make sure you have the coverage you need to protect yourself and your loved ones. Chad Choate III, AAMS828 3rd Avenue WestBradenton, FL 34205941-462-2445chad.chaote@edwardjones.com This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.

Term vs Perm: Which is right for you?

If youve been thinking about life insurance, especially if you have family, loved ones, or anyone who depends on you financially, you might be curious about the different kinds of policies available. Which type is right for you?Essentially, you can look at two main categories of life insurance: term and permanent.Term insurance is a pay-as-you-go option that covers a specific amount of time, usually 20 years or fewer. Term insurance benefits are paid to your beneficiaries free of federal income taxes if you pass away during the coverage period, but theres no opportunity to build cash value. Permanent insurance, such as whole life or universal life, offers coverage for as long as you pay the premiums, and in addition to providing a tax-free death benefit, also offers a chance to build equity, or cash value, on a tax-deferred basis. When determining which type of insurance is appropriate for your needs, youll want to consider these factors: Cost Term insurance is generally affordable for most people, which is why it may be particularly suitable for parents and young adults who may be at the beginning of their careers. Permanent insurance is typically more expensive, largely because it is meant to last for one's lifetime and some of the premiums go toward building cash value in the policy and paying for other features. Generally, the younger and healthier you are when you purchase permanent insurance, the lower your rates will be. Length of time insurance is needed If you think you will only need life insurance for a certain period perhaps until your children are grown you might lean toward term insurance. If you feel the need for life insurance for other goals throughout your lifetime, for whatever reason you might have a special needs child, or perhaps you want to use your policy to help pay for retirement, or you wish to include the policy as part of your legacy and estate plans you may want to consider some type of permanent insurance. Investment preferences You may have heard the phrase buy term and invest the difference. Essentially, this just means that an investor could purchase low-cost term insurance, and then invest the money that was saved by not getting permanent insurance. This can be a valuable strategy in some situations, but people often dont actually invest the difference. A permanent insurance policy, through the payment of premiums, may result in a steady buildup of cash value or continued contributions to the policys investment components. For many people, this discipline is helpful. Future insurability If you have health issues, it could become difficult to get permanent insurance after youve reached the end of a term insurance policy. (Some term insurance policies do offer the opportunity to convert to permanent coverage, usually without the need for a medical exam.) You could avoid this potential problem by purchasing permanent insurance when you are still young and healthy. Ultimately, you will need to weigh the various factors involved in the permanent-versus-term decision. You also might benefit from consulting a financial professional, who can evaluate which type of insurance is most appropriate for your situation. But whether its term or permanent, make sure you have the coverage you need to protect yourself and your loved ones.  Chad Choate III, AAMS 828 3rd Avenue West Bradenton, FL 34205 941-462-2445 chad.chaote@edwardjones.com This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.  Edward Jones is a licensed insurance producer in all states and Washington, D.C., through Edward D. Jones & Co., L.P. and in California, New Mexico and Massachusetts through Edward Jones Insurance Agency of California, L.L.C.; Edward Jones Insurance Agency of New Mexico, L.L.C.; and Edward Jones Insurance Agency of Massachusetts, L.L.C. California Insurance License OC24309

Behind the Scenes of Professional Caregiving

Professional caregiving is a noble and gratifying career that requires dedication, compassion, and a commitment to providing quality care and support to aging, ill, and disabled individuals. While the role of a caregiver may seem straightforward to the uninitiated, a lot goes on behind the scenes that shapes the day-to-day experiences of these essential healthcare workers. Read on to explore what it means to be a professional caregiver in Cape Coral, including caregivers who work through a caregiving agency.Common Professional Caregiving Job TitlesNearly five million strong, professional caregivers work in a wide variety of settings, including hospitals, clinics, residential care facilities, and private residences. There are several different types of professional caregivers, each specializing in a specific area of care to meet the diverse needs of their clients.Here are some of the more common ones:Home Health Aides (HHAs): While working with nurses and therapists, these professionals provide personalized care and support to individuals in their homes. HHAs assist with activities of daily living (ADLs), such as bathing, dressing, meal preparation, and medication reminders.Certified Nursing Assistants (CNAs): CNAs work under the supervision of registered nurses to provide basic healthcare services to patients in hospitals, nursing homes, and other healthcare environments. A CANs responsibilities may include feeding and mobility assistance, personal care, and monitoring client vital signs.Personal Care Aides (PCAs): PCAs offer non-medical assistance to individuals with disabilities or chronic conditions. These direct caregivers assist clients with personal care tasks ranging from grooming and toileting to meal preparation and companionship.Agency Caregivers: Many professional caregivers, especially CNAs, fall within this category. Agency-supplied caregivers are often contracted out to nursing homes on a short-term basis, while others work in private residences or hospices.Professional Caregiving Requires Training and PreparationOne of the fundamental aspects of professional caregiving is the comprehensive training and preparation involved. Aspiring caregivers undergo training programs that cover a wide range of topics, including basic caregiving skills, communication techniques, infection control protocols, and more. This intensive training equips caregivers with the knowledge and skills necessary to provide safe and effective care to their clients.Once certified, caregivers can take advantage of continuing education and professional development opportunities that help them hone their skills and stay current with best practices. This continuous learning process allows caregivers to adapt to their clients changing needs and provide a high level of care in all types of settings.The Role of Professional Caregiving Agencies in Cape CoralCaregivers who work through an agency can expect to receive valuable support and resources to help them succeed in their roles. Caregiving agencies typically have dedicated support staff, including schedulers, coordinators, trainers, and supervisors, who work closely with caregivers to ensure they have the tools and resources they need to thrive in their roles.Schedulers play a vital role in matching caregivers with clients based on their skills, availability, and preferences. By carefully coordinating schedules and assignments, schedulers help ensure caregivers can provide consistent and reliable care to their clients while enjoying a healthy work-life balance. Coordinators serve as a point of contact for caregivers, offering guidance, support, and assistance with any challenges they may encounter while on the job.Caregiving is All About RelationshipsIn addition to collaborating with colleagues and supervisors, working closely with clients and their families is essential for those in the caregiving profession. Caregivers must establish strong relationships with their clients, providing physical care, emotional support, and companionship. Building trust and rapport with clients is essential for creating a positive caregiving experience and fostering a sense of security and well-being.Professional caregivers are also required to interact with family caregivers, many of whom play a vital role in the caregiving process, providing valuable insights into their loved ones preferences, routines, and medical history. Caregivers work closely with families to create personalized care plans that address each clients unique needs and preferences. Maintaining open communication and involving families empowers caregivers to provide their clients with the best care and support possible.The Challenges and Rewards of Professional CaregivingProfessional caregiving requires the ability to navigate a range of emotions, situations, and responsibilities daily. Depending on the day, caregivers may encounter hurdles like managing complex medical conditions, dealing with behavioral issues, and coping with the emotional toll of caring for clients facing significant health challenges including end-of-life trials.Despite these challenges, professional caregiving is also incredibly rewarding, offering caregivers the opportunity to make a meaningful difference in the lives of others. The relationships caregivers build with clients are often deeply rooted and profound, providing a sense of purpose and fulfillment that goes beyond the typical job. Caregivers witness firsthand the positive impact of their care and support, creating lasting bonds that enrich both their lives and the lives of others in the community.Caregiving and Self-Care: A Winning CombinationWhile it is highly gratifying, caregiving can also be physically and emotionally demanding. Caregivers must prioritize self-care to maintain their health and well-being, empowering them to continue providing the top-notch care and support their clients deserve.Implementing self-care best practices, including regular exercise, healthy eating, adequate rest, and stress management techniques, can help caregivers maintain their energy levels and emotional resilience. When necessary, caregivers should seek support from colleagues, supervisors, and loved ones, as well as take advantage of counseling services or support groups.In conclusion, professional caregiving is a noble and gratifying career that requires a unique combination of skills, compassion, and dedication. Caregivers play a vital role while serving on the frontlines of the American healthcare system, assisting aging, ill, and disabled individuals. Behind the scenes of professional caregiving lies a world of training, support, resources, and personal connections that shape the experiences of caregivers everywhere. Take a moment today to thank a caregiver in your life. Theyll be glad you did!Is Professional Caregiving Your Career Calling? Lets Have a Conversation.Whether you are new to the caregiving game or a seasoned pro, Home Instead in Cape Coral would love to speak with you. At Home Instead Cape Coral, we understand that our caregivers are the lifeblood of our organization. Due to our expanding client load, we are currently seeking qualified candidates to fill several exciting caregiving positions. While proudly serving the Cape Coral, Alva, Boca Grande, Bokeelia, Burnt Store Marina, Matlacha, and North Captiva Island communities, we support clients and families with compassionate home care services, including Alzheimers and Dementia Care, Arthritis Care, Companionship Care, Diabetes Care, Elder Care, Home Helper Services, Hospice Care, Meals and Nutrition, Personal Care, Respite Care, 24-Hour Home Care, and Transportation.As a highly valued member of the Home Instead Cape Coral team, youll enjoy a fast-paced, positive work environment where open communication is valued and hard work is rewarded. We also offer competitive pay, flexible scheduling, ongoing caregiver training, and career advancement opportunities galore. No matter your experience level or education, wed love to hear from you! To learn more about Home Instead Cape Coral and our dynamic professional caregiving jobs, visit us now at www.homeinsteadswfl.com.

Local Services By This Author

Arden Courts - ProMedica Memory Care Community (Lely Palms)

Memory Care 6125 Rattlesnake Hammock Road, Naples, Florida, 34113

ProMedica Skilled Nursing and Rehabilitation (Lely Palms), located on Rattlesnake Hammock Road in Naples, FL, offers individualized post-hospital skilled nursing care in a comfortable environment. Our experienced clinical and therapy teams provide specialized care focused on your needs, interests, and abilities, ensuring a smoother and safer transition throughout your recuperation.Our facility offers various care settings, including outpatient rehabilitation, a dedicated short-term care unit (MedBridge), and long-term care, all designed to help you return home or to a lower level of care with optimum functionality.We are proud recipients of the 2021 Bronze Commitment to Quality Award from the American Health Care Association and National Center for Assisted Living, recognizing our commitment to improving residents' lives through quality care.At ProMedica, we value the well-being and comfort of our residents and their families. We strive to provide the highest level of care and compassion, as expressed by the words of appreciation from families whose loved ones have experienced our care firsthand.For those seeking more information, we invite you to visit our Health & Wellness Resources page. Our team is ready to assist you, so please don't hesitate to contact us. Stay connected with us for updates and helpful resources on our Careers page, Healthcare Resources blog, and through our policies regarding Terms of Use, Privacy, Information Practices, and Accessibility.