Alzheimer’s & Power of Attorney

The number of Americans living with Alzheimer’s disease is on the rise. According to the Alzheimer’s Association report for 2019, an estimated 5.8 million Americans of all ages are living with Alzheimer’s and are being cared for by more than 16 million family members. Maybe one of those family members is you!

They project that in thirty years, the number of Alzheimer’s sufferers will reach nearly 14 million.

Children of aging parents who suspect a parent is in the early stages of Alzheimer’s, or have  a parent already diagnosed with the disease, should consider a Power of Attorney (POA).

A POA gives a family member the legal right to step in and make decisions that a parent with an Alzheimer’s or dementia diagnosis is unable to make themselves, or doesn’t want to. 

There are various, even urgent, situations when having a POA is extremely important. For instance, you may need to:

  • Find a trusted money manager to handle day-to-day bill paying and the daily money management of bills, medical and insurance statements, tax preparation, and other personal financial tasks.
  • Act as family spokesperson regarding medical appointments, surgery, and doctor appointments.
  • Take care of things at home if your parents or loved one is still healthy enough to travel in retirement, or at any time they are away from their home.

We hope you will consider us if Daily Money Management is a concern. We are experienced, trusted, and a member of AADMM, the American Association of Daily Money Managers.

When It’s Time for a Daily Money Manager

Two of the most frequent reasons people turn to a daily money manager have to do with situations like these:

John, age 53, called his mother who lived in another State. During the call, his mother complained that she’d received a bill from her neighborhood urgent care facility for $5,500 for a single wrist x-ray. She said not to worry, her wrist wasn’t broken, just a sprain, and she’d already written them a check for the X-ray. John was speechless.

Paula, a highly successful art auctioneer and antique dealer, traveled the world to satisfy her clients’ tastes for fine collectibles. Every year, Pauls made a maximum contribution to her SEP-IRA. Last year, due to an exceptionally busy year and hectic schedule, she remembered to make the deposit, but forgot to invest the money. It sat in cash for over a year losing potential profits.

Adult children of aging parents like John need daily money management solutions for peace of mind for themselves as well as their elders. With age, older people living independently become forgetful and distracted with health issues. Managing monthly bills and sorting through bank statements, investments, and medical insurance forms becomes more difficult. The adult children worry about their parents’ financial decline, but are hesitant to get involved. Their own lives are busy, they live far away, or they just don’t want to face the fact that their their parents can no longer maintain autonomy and control over their own lives.

workEntrepreneurs like Paula need help to manage their daily money matters and investment accounts. Usually working longer than 8-hour days, traveling extensively, having multiple investment accounts, often owning multiple properties, these busy business owners have little time to tend to their personal financial matters.

If either of these scenarios hit home with you or with someone you know, please consider a complimentary review with us at DL Money Matters. We can help you decide whether it’s time for a daily money manager in your life, or in the life of someone you love.

Summer Travel with Mom and Dad

three womenThis summer will see families planning and taking vacation together. The best memories happen when 3, 4, or more generations spend time together at places carefully chosen to keep everyone happy. The key is finding places to stay and things to do that have something for everyone—regardless of age or physical ability.

We’ve searched the web and selected a few resources we think can help you plan and find deals—even at the last minute.

All-inclusive family-oriented beach resorts in the Caribbean offer all the comforts of home plus plenty of activities for everyone. Kids can play on the beach while grandma can relax in the shade with her favorite book. Check out Best All-Inclusive Caribbean Family Resorts for 2018.

Family summer camps offer accommodations, meals and activities for intergenerational groups. What better place that lodging in a natural setting with a slew of activities and social time. Visit Trip Savvy for information on family camps all over the U.S.

For the truly adventurous, the website Road Scholar offers ideas for over 200 intergenerational family programs that are educational and fun and in places all over the world.

Cruises are often ideal solutions. There are endless activities for kids, more leisurely activities for the less adventurous, and visits to exotic ports where the needs of the disabled are provided.

Finding the most economical way to pull together a great multigenerational family vacation may take some homework, so we’ve turned to Kiplinger and their easy to navigate slideshow on the Best Travel Websites to Save You Money.

Have a great summer!