Signs, signs everywhere are signs

 In our last post, we looked at Red light signals that indicate that you should turn your finances over to an attorney sooner rather than later. In some cases, you or others start noticing some of the warning signs given. Now what?

Time to put your plan into action! Based on the signs, a full transition might be needed. But if you can still handle many of your money matters, we recommend you transfer responsibility to your attorney gradually, based on the help you need. Here are some smart tips to prepare for an easy, less stressful transition for both of you.

Go over your updated financial inventory in detail with your financial advocate.

Consider this your advocate’s “financial orientation.” You might feel uncomfortable openly sharing information that you used to keep private, but remember that you chose your financial advocate because you can trust them. They’ll need to be fully familiar with information to do a good job. If your finances are fairly complicated, you can cover the information over a couple of sessions.

Here are some signs that might give you pause for thought

•        You need caregivers* to help you with tasks such as preparing food, getting dressed, and taking medications.

•          You drive less because you don’t feel safe.

•          You spend more time alone because it’s harder for you to visit with others or keep up with conversations.

•          You start neglecting tasks like looking at your account balances, home maintenance, housekeeping, and food shopping and preparation—chores that you used to do just fine.

•          You forget to pay a few bills on time, or you pay the same bill twice.

•          Your personal habits change. For example, you don’t always return phone calls or emails when you used to respond right away, or you don’t keep up with hobbies anymore.

•          You start having trouble doing business over the phone or handling familiar tasks on the computer.

Just one of these warning signs may not be enough to turn finances over to your attorney, but more than one might be a warning that it’s time to begin giving your attorney more jobs to do. This is a good time to sit down and discuss what help you might need.

*Remember: while home health aides and other caregivers can help with daily activities, they should not have access to your money or personal information

Temporary incapacity

There are situations in which having trouble managing your money is only temporary, like an illness, accident, or major surgery where you expect to fully recover your ability to make decisions and monitor your money. Even in these instances, you may need your attorney to step in for a time.