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In reality, when someone is diagnosed with Alzheimer's disease or dementia, they are not immediately considered incapacitated or of unsound mind. A legal determination of whether someone is incapacitated needs to be made by a court. There is no presumption or immediate trigger based solely on a medical diagnosis.
To sell the property, you need to establish your authority to act on behalf of the legal owner through a power of attorney (POA) or a court order, like a conservatorship, which grants you the legal authority to handle the sale on behalf of your parent.
The POA cannot transfer the responsibility to another Agent at any time. The POA cannot make any legal or financial decisions after the death of the Principal, at which point the Executor of the Estate would take over. The POA cannot distribute inheritances or transfer assets after the death of the Principal.
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.
Benefits for people with dementia These include: Attendance Allowance ? for those over State Pension age who need help at home; you can claim Attendance Allowance regardless of your income and savings. Personal Independence Payment (PIP) ? for those under State Pension age who need help at home.