I
read an article in this month's Smart Money magazine about the
elderly and alzheimers disease. It mentioned how important it is for
children to become involved in the finances of parents early before
the disease progresses too far. Financial security as well as credit
standing can be destroyed by those targeting the old folks.
Surprising
to me were the following statistics..... one in eight of those over
65 have the disease and 43% of those over 85 have it. Although not
stated we need to remember some of these include early stages. Women
make up two thirds of those afflicted. Again they didn't mention
women live longer than men so that is a factor I am sure.
Early
signs to watch for are checkbook mistakes, unpaid bills, and
disorganized files and drawers. Those should be the trigger for
action from the kids. A good way was suggested to bring up the need
for help. Tell the parents how they have to have help with yard work
and other chores and this is one more chore to need help. Mention
also how we all will need help eventually to ease into the tough
subject.
Lots
of us will have to deal with this heartbreaking subject if we don't
already and the advice is good. We don't want our parents taken
advantage of and their final years tainted by financial ruin. I hope
when the time comes I will know early enough to ask for help or my
sons will step in. It is not out of nosiness or greed, it is out of
love.
Ken
Dillenburg