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Real members of myALZteam have posted questions and answers that support our community guidelines, and should not be taken as medical advice. Looking for the latest medically reviewed content by doctors and experts? Visit our resource section.

When Do You Take Over 100%!of The Finances?

When Do You Take Over 100%!of The Finances?

For the last year we have been monitoring my mom. Even with my Dad’s death last January she handled her finances fairly well. I have power of attorney to handle bill payments etc. Until recently she was reasonable with withdrawals, etc. However, since early December she has withdrawn about 6-7 months of her miscellaneous expense allotment. I am concerned because she cannot justify where it went. I hate to take away this last responsibility but it is a lot of money. If she does the same… read more

posted February 6, 2018
A myALZteam Member

I don't think it is wrong to take on the finances. We had this particular issue with a place that my mother was spending money and finally we had to go to that business and say she is not able to write out a check (we live in a small town so check is still a normal payment option, thank goodness she doesn't have a credit card or debit card). We also worked with the bank and they changed her accounts to require two signatures on a check. Since this point started, we have removed check blanks from her purse and now is given so much money and has to ask for additional when needed. It isn't that she can't have it, we just have to monitor what she has.

posted February 23, 2018
A myALZteam Member

We were too late at helping and had to fix the mess. My Dad had accidentally withdrew $30k out of his mutual funds and if it wasn't for Mom and her paranoia with the disease, their children wouldn't know about the identity theft situation. They immediately called us and the computer was unplugged STAT. A lot of fixing had to happen and major stress on us. Don't let it go any further. Let her write the checks with your observation. It is disheartening to see them struggle writing it though.so be prepared for the tears in your eyes.

posted February 22, 2018
A myALZteam Member

My sister has the POA for our Mum. My sister lives 1200 miles away! My sister, I believe, was unfairly burdoned by this arrangement. However, she has done an excellent job. She gradually took over paying bills via the internet through Mum’s bank account and now that Mum has been deemed incompetent, she has taken over the remainder of the financial dealings. I find that the most horrible thing about all of this is knowing when the person cannot truly manage anything on their own. Yet one does not want to strip the person of their independance. It is not an easy burdon.

posted February 9, 2018
A myALZteam Member

I just recently took over my mother's finances..not because she was over spending but because she stopped paying the bills. Said she was afraid of running out of money. Now we do the bills together on a weekly basis so she can see where the money is going.

posted February 8, 2018
A myALZteam Member

Eventially she will be at that stage that she doesn't even think about the finances. Each day will be consumed with menial regular routine of getting up, hygiene issues, getting dressed, eating, activities such as exercise classes, and eating again, and taking meds, going to sleep, and waking up for the next day.

posted February 13, 2018

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