What do I do if I suspect my Mom has dementia and she’s still handling her own finances?

Ask Ralph - Christian Finance

Navigating the delicate balance of protecting a loved one's financial well-being while preserving their dignity is a heart-wrenching challenge, especially when signs of cognitive decline emerge. Ralph Estep Jr. shares a deeply personal story about how he helped a cherished client safeguard her life savings before it was too late, offering valuable insights for anyone in a similar situation. Through the lens of a listener's poignant question, he explores the emotional toll of witnessing a parent struggle with financial management and the fear of infringing on their independence, particularly when dealing with conditions like dementia. Ralph provides actionable steps to document warning signs, establish legal safeguards, and maintain open communication, all while emphasizing the importance of empathy and compassion—especially when mom has dementia. Tune in to discover how faith and practical strategies can empower you to support your aging loved ones without compromising their dignity.

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Podcast Timestamps:

00:00 Episode Overview

02:22 Listener's Heartfelt Question

04:05 Gratitude Statement

05:06 Bible Verse - Exodus 20:12

05:55 Margaret's Story: Recognizing Cognitive Decline

11:16 Steps to Protect Your Loved Ones

16:58 Join the Live Community

20:27 Reflection Questions

21:30 Action Steps

26:20 Conclusion

Takeaways:

• Recognizing early signs of financial confusion in loved ones is crucial for intervention.
• Documentation of unusual financial behaviors helps protect seniors from potential exploitation.
• Establishing a durable power of attorney is essential for managing finances effectively.
• Maintaining open communication with elderly parents ensures their dignity is respected during intervention.
• Creating an emergency response plan can safeguard your parents' financial well-being.
• Regular monitoring of financial accounts helps identify suspicious activities or changes.

Links referenced in this episode:

• Ask Ralph Insiders Community https://mailchi.mp/askralph.com/group
• Ask Ralph Show Live https://askralphpodcast.com/live
• What is your question that you would like to ask Ralph? Send Your Question here: https://justaskralph.com/
• Join our email list and get a free copy of “Mastering Your Finances” at https://askralph.com/

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