A recent Public Radio program on Financial Planning called attention to early memory loss vulnerability regarding unwise financial decisions. In the early stages of Dementia and Alzheimer's the brain functions that relate to financial judgment are apparently affected.
It may be difficult for family members to observe these problems when the affected person first begins to show signs of significant memory loss. There is a desire for independence in decision making and the gradual erosion of reasonable thought is hard to define and notice.
The impact of unwise decisions on spending, selling property, giving away resources can be costly and dangerous to family finances. Most people want to think the best of family members and will give the benefit of the doubt when the affected person drifts into irresponsibility.
Counsel for family members and friends is one practical step toward alleviating the problems resulting from troublesome financial decisions. The business community has much at stake when persons fail to make reasonable financial and property decisions.
Dementia Care Central points out that difficulty in managing personal finances is one of the first signs that something is wrong in the life of aging person.
An extensive and detailed study of Decision Making Capacity in Older Adults is found in a 2007 study reported in the Journal of Gerontology. The balance between autonomy and protection has special interest when it comes to financial decision making. Making an assessment of competence is a growing issue because of the intergenerational wealth transfer happening in 21st century America.
It may be difficult for family members to observe these problems when the affected person first begins to show signs of significant memory loss. There is a desire for independence in decision making and the gradual erosion of reasonable thought is hard to define and notice.
The impact of unwise decisions on spending, selling property, giving away resources can be costly and dangerous to family finances. Most people want to think the best of family members and will give the benefit of the doubt when the affected person drifts into irresponsibility.
Counsel for family members and friends is one practical step toward alleviating the problems resulting from troublesome financial decisions. The business community has much at stake when persons fail to make reasonable financial and property decisions.
Dementia Care Central points out that difficulty in managing personal finances is one of the first signs that something is wrong in the life of aging person.
An extensive and detailed study of Decision Making Capacity in Older Adults is found in a 2007 study reported in the Journal of Gerontology. The balance between autonomy and protection has special interest when it comes to financial decision making. Making an assessment of competence is a growing issue because of the intergenerational wealth transfer happening in 21st century America.
