What are the main reasons for putting financial assets in caregivers name only
I put our financial assets in my name only when my DH was first diagnosed a few years ago. Now he's upset and insisting I put them back in both of our names. Please advise!
, it's a huge and emotional decision for you both. While you wait for feedback from the community, I thought I'd share: https://alzheimersdisease.net/legal-financial-planning, which talks about the best practices of financial planning. It may help to take some of the emotion, some of the "You-v-me" kind of feeling out of any discussions that are ahead. - Warmly, Donna (team member) Thank you for answering, Donna. Your article was very helpful
, I'm so glad you found it helpful! I'm sending love and light in hopes that things smooth over. PLease stay in touch! - Warmly, Donna (team member)
thank you for reaching out. I am glad that you found the article Donna sent you helpful.
With my mom I got in touch with a an elder lawyer who specialized in elderly and financial planning. It can get tricky, so I always suggest to reach out to someone who specializes in this law.
Also, if you have not already done so I recommend to get your loved one's medical wishes documented and who they authorize to make decisions for them in regards to their medical decisions and their assets.
One key is that this paper work must be completed while the person is deemed competent. I have provided some article links below that may be helpful. They are by my team mate Kelsey and she really shares a lot of knowledge from her own journey. Hope the articles are helpful. https://alzheimersdisease.net/living/navigating-the-paperwork-for-dementia.https://alzheimersdisease.net/living/navigating-paperwork.https://alzheimersdisease.net/living/making-sense-of-dementia-care . If you have any questions or concerns after reading the articles, just reach back out. Just Keep Swimming...Lynn Marie, "AlzheimersDisease.net Team Member"I have always handled the bills and finances so I'm concerned when my Alzheimers gets really bad and my husband has to take over. He just doesn't like to do it so I do! I'm keeping passwords for him. What else can I prepare him for?
, that's a tough one. Have you spoken with your husband about your fears? And if he is having problems connecting with them, have you spoken with a trusted friend who would be willing to take over that task for you? If money is not a problem, you could consult with a financial manager. I hope that maybe gives you a place to start, and to ease your mind. - Warmly, Donna (team member)
