Trying to get financial control can be a highly frustrating problem for adult children. They have been appointed as agent on an impaired parent’s Durable Power of Attorney (DPOA), but the parent stops them from getting involved. The dilemma is this—the kids see that Mom or Dad is losing it, forgetting to pay bills, getting notices from the IRS or utility company that things are past due, and they need to act. They start by telling the parent that they are going to take over. The parent balks and says “leave me alone, I’m fine.”
Many elders with cognitive impairment do not recognize that there is anything wrong. They may reluctantly admit that they have “a few memory problems” but they dismiss the fact that this is affecting their ability to safely manage their own money. The adult children see it and feel a sense of panic over the consequences of not paying bills or ignoring debt.
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