Diagnosis
Joint Bank Accounts
Social Welfare Payments
Making a Will

As dementia progresses you will find that the person you are caring for will
find it increasingly difficult to manage their financial and legal affairs. Although some arrangements can be made on an informal basis, there are a number of procedures and safeguards which can be taken so that the person’s affairs are managed as they would wish.

Diagnosis
When a diagnosis of Alzheimer’s Disease or a related dementia has been made, a number of important legal and financial issues should be considered as early as possible.

Joint Bank Accounts
Joint bank accounts are a particularly useful means of dealing with one’s financial affairs when a person has mobility problems, or is unable to take responsibility for maintaining an account on their own.

Any person can open a bank account when that person has the necessary mental capacity (which may be the case when a person is diagnosed with early stage dementia). When an account is opened an account holder may authorise the bank to accept cheques if signed by another individual. If one account holder becomes mentally incapacitated, the legal authority to operate the account may be revoked and it may not be possible for the account to be used by the other joint account holder.

Social Welfare Payments
The Department of Social, Community and Family Affairs has the power to make payments to a third party acting on behalf of the recipient. The person to whom a social welfare benefit is payable may nominate another person to receive that benefit on their behalf. The person nominated (agent) has no power to deal with other financial matters.

Making a Will
If not already done, the person with dementia should be encouraged to make a Will as early as possible, disposing of their estate. It will be necessary for a doctor to certify that the person with dementia is still mentally capable of making and understanding such a document. If they are married, their spouse should also make a Will.

A Will is a written document in which a person sets out legally binding wishes in relation to the distribution of an estate after death. Having a Will is important because it not only details the arrangements for the disposal of the estate, but it can also:
• Express burial wishes and any other details concerning funeral arrangements or the disposal of body
• Save next of kin or other beneficiaries substantial inheritance tax
• Appoint guardians for any children under the age of eighteen if one or both spouses die in
an accident
• Leave specific assets to specific children or beneficiaries and specify that certain beneficiaries can only inherit property on attaining the age of 21 or older.

A Will can be drawn up by anyone, but it is best to go to a solicitor for the benefit of their expertise and therefore reduce the likelihood of it being challenged after death. Additionally, a Will can also be used to save next of kin or other beneficiaries substantial inheritance tax.

For more information or support call the Alzheimer National Helpline 1800 341 341
Website: www.alzheimer.ie