Some people with dementia can have difficulties managing their own finances. This may lead to problems paying bills or safely managing their financial security.
The storage, management and disposal of important financial information that may have been used for personal and online transactions and bill paying needs to be carefully considered. This extends to the management and disposal of documents, such as the deeds to your home, shares or bonds. It is important to plan ahead and consider a number of options on how this information is going to be managed into the future. Enduring Power of Attorney allows another person of a person’s choice to manage their financial affairs if they are no longer able to manage them effectively. Alzheimer’s Australia, a solicitor, the Law Society, or the Office of the Public Guardian, or the Office of the Public Advocate can assist with more information about the process of arranging Enduring Power of Attorney. The Department of Health and Ageing freecall 1800 020 103 can also provide contact details for your state or territory.