Client with dementia

[Anonymous]

I have a client with dementia and one child lives with them and another lives out of state. The one that lives with them is out of control when it comes to money and the one out of state has asked me to help. I have a few ideas of how to help, and wanted to see if anyone else has some good ideas.

1. Close all current bank and credit accounts
2. Open new credit accounts with only $500 limits or use prepaid credit cards
3. Give client an allowance of cash each week to spend as they like and take them to make their big purchases

It’s hard because, well my client has dementia and the local child just takes the credit cards and uses them wildly. The local child is always complaining that the out of state child has made it nearly impossible to get money yet they still find a way.

Thanks,
Michelle
703-403-2996
TotallyforSeniors.com

[Anonymous]

In terms of limiting credit card purchases one of the expo vendors at conference offers a card with customizable settings: Types of purchases approved/prohibited, limits, etc. While the card does have a monthly fee to have it might be something to look into.

https://www.truelinkfinancial.com/card/true-link-card

You can set it up to:

Allow certain purchases
Block specific merchants
Block online and phone purchases
Set spending limits
Alert* you about charges

In the work I do with some of my clients I have automated as many of the bills as possible (essentially removing having checkbooks lying around to be used). I have set up one main credit card to use (and if in your situation the family member is taking advantage of that you can put limits in place, or use a card like the true link which can be configured to put constraints on stores, purchases (ie; no liquor), etc.

I would also set up alerts (either for the child that is out of state or for you as the DMM), to get alerts text and/or email for all credit card charges so you can getting instant notifications of use.

Hope that helps.
Alix

[Anonymous]

for some reason the link in my comment above didn’t load correctly, here is the link again.

True Link

[Arlene Glotzer]

Before you do anything, I would get a copy of the Power of Attorney and find out who has this authority. Speak with the client’s attorney and make sure he/she is on board with what you have in mind to be sure you are operating within your authority, protecting yourself, and any other legal safeguards can be put in place. The local child also needs a plan for his/her future. Keep us posted–this is not as unusual a situation as we would hope!

[Author]

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