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A properly drafted Will ensures your assets provide for your spouse's care. Financial Power of Attorney: A Durable General Power of Attorney appoints the person or persons you wish to manage your assets once your dementia advances. Your current document might name your spouse, requiring an update.
If you want to have your own account but would prefer someone else to help manage it, such as a close relative or friend, you can ask your bank for a 'third party mandate'. This allows someone else to be able to sign cheques and manage your account for you.
Introduction: The five-word test (5WT) is a serial verbal memory test with semantic cuing. It is proposed to rapidly evaluate memory of aging people and has previously shown its sensitivity and its specificity in identifying patients with AD.
The first step is to find out if they have named a Durable Power of Attorney (POA). Without a POA in place, you'll have to go to court to get guardianship of your loved one in order to access accounts on their behalf. You may also consider establishing a revocable trust or conservatorship.
It's important to establish legal authority. Even if you're a family member or the caregiver, you don't have a right to sell the home. Period. Your authority needs to be established with legal documents, like a power of attorney (POA), or through a court order, like a conservatorship.