People with Alzheimer’s disease often have problems managing money. In fact, money may be one of the first noticeable signs of the disease. Early on, a person with Alzheimer’s may perform basic tasks, such as paying bills, but have problems with more complicated tasks, such as balancing a checkbook. As the disease gets worse, a person may hide financial problems Or, the person may not realize that he or she is losing the ability to handle money.
Trouble counting change, calculating a tip, balancing a checkbook, or understanding a bank statement may be cause for concern. Watch for: Unpaid and unopened bills, Lots of new purchases on a credit card bill, strange new merchandise or missing money, either cash or
from an account.
People with Alzheimer’s disease also may be victims of financial abuse or ‘scams’. There are telephone, mail, e-mail, or in-person scams. The person behind the scam could be family or ‘friend’.
Scams take many forms including: Identity theft, Get-richquick offers, Phony offers of prizes or home or auto repairs, Health scams such as ads for unproven memory aids, Insurance scams and even Threats
Signs that the person is not managing well or may be a victim include: The person seems afraid or worried when he or she talks about
money. Money is missing from the person’s bank account. Signatures on checks don’t look right. Bills are not being paid, and the person
doesn’t know why. The person’s will has been changed without his or her permission. The person’s home is sold, and he or she did not agree to sell it. Things, such as clothes or jewelry, are missing. The person has signed legal papers without knowing what the papers mean.
More information on how to deal with money issues if a family member has Alzheimer’s is available from the Alzheimer’s Association 24/7 Helpline: 1-800-272-3900,www.alz.org, or from the Alzheimer’s Disease and Education Referral Center (ADEAR), a program of the National Institute on Aging, or call 800-222-2225.
Helen Davis is the coordinator for The Colorado Coalition for Elder Rights and Abuse Prevention (CCERAP). This organization is supported by the Colorado Department of Human Services, State Unit on Aging. Additional resources and information are available on CCERAP’s Website.