For many older adults, Alzheimer’s doesn’t arrive all at once — it slips in quietly. At first, it’s small things. A misplaced bill. A payment was made twice. A check left unsigned because you can’t remember why you wrote it.
Over time, the patterns change. Numbers that once made perfect sense start to look unfamiliar. Balancing a checkbook — something you’ve done for decades — suddenly feels like solving a puzzle you can’t quite finish. You might look at your bank balance and wonder, “Did I already pay that?” or “Why does this seem off?”
Then there’s the uncertainty. You begin to second-guess yourself, so you start trusting others more — sometimes too much. A “friendly” caller sounds convincing. A letter looks official. A relative or neighbor might offer to “help with the bills,” but slowly takes control. It’s not carelessness — it’s how Alzheimer’s quietly alters judgment, memory, and confidence.
Families play such an important role, helping them stay independent, while still feeling respected and heard.
Day-to-Day Financial Support
1. Automate payments
Set up automatic payments for major recurring bills—mortgage, utilities, and insurance. This prevents missed or duplicate payments. If your loved one likes to stay involved, review the payments together once a month so they still feel in control.
2. Simplify spending.
Rather than taking away access entirely, limit financial overwhelm. Reduce multiple accounts to one checking account and one debit card. Lower withdrawal limits, and if possible, move large sums to an account that requires two signatures. For daily needs, a small weekly cash allowance can help them stay independent without risk.
3. Take over the paper trail.
As Alzheimer’s progresses, even sorting mail can become stressful. Set up paperless billing where possible. For physical mail, have it redirected to a trusted family member to review first—many scams still arrive in envelopes that look “official.”
4. Organize and secure documents.
Keep important financial paperwork—insurance policies, bank information, home titles, passwords, and tax records—in one fireproof box or digital vault. Label everything clearly, and make sure at least one other family member knows where it’s stored.
Legal and Long-Term Planning
1. Establish durable power of attorney early.
This allows a trusted person to step in for financial decisions when needed. Do this before Alzheimer’s progresses too far, as legal capacity may be questioned later.
2. Review and simplify financial products.
Check old insurance policies, CDs, and investment accounts. Many people have outdated accounts that can be consolidated or closed. This reduces confusion and paperwork later.
3. Clarify beneficiaries.
Confirm that retirement accounts, life insurance, and other assets have the correct beneficiaries listed. Many families only discover outdated names or errors after it’s too late.
4. Consider future care costs.
Meet with a financial advisor familiar with dementia care. Ask about long-term care insurance, Medicaid eligibility rules, and community programs that can offset home care or assisted-living costs.
Monitoring and Protection
1. Keep an eye on patterns, not just numbers.
Look for changes that don’t fit usual behavior—sudden ATM withdrawals, odd purchases, or new “friends” who get involved in finances. These are early signs of financial exploitation.
2. Use banking alerts wisely.
Set up text or email alerts for withdrawals or charges above a certain amount. Some banks even allow you to give “view-only” access to a trusted person, so you can monitor without interfering.
3. Check credit regularly.
Order a free credit report at least once a year (AnnualCreditReport.com). Unrecognized accounts or inquiries can signal identity theft—something scammers often attempt when someone’s memory declines.
4. Involve professionals before problems grow.
A certified financial planner, elder law attorney, or geriatric care manager can help structure protections without stripping independence. Choose advisors who specialize in dementia or elder care—experience matters here.
Getting Outside Support
1. Alzheimer’s Association (alz.org)
Their 24/7 Helpline (1-800-272-3900) connects families to local legal, financial, and caregiving resources. They can also explain how to handle financial guardianship if dementia advances.
2. Area Agencies on Aging (Eldercare Locator – eldercare.acl.gov)
Offers free guidance on government programs, benefits, and trustworthy local financial support services.
3. AARP Fraud Watch Network
Provides scam alerts specifically targeting older adults, plus hotlines to report fraud attempts.
4. Local banks and credit unions
Some now have “senior care” or “trusted contact” programs—staff are trained to spot unusual activity and notify family members before damage happens.
With care,
Mike Bridges
Founder, The O55 Report