When dementia strikes, is your family’s money protected?

In our recent podcast episode, my co-host Mapalo Makhu and I tackled a topic that is becoming painfully close to home for many of us: how to care for – and legally protect – ageing parents who face a diagnosis of Alzheimer’s or dementia. The statistics are startling. A conversation I had with a local attorney really put this into perspective for me: when she started her practice, she handled maybe two dementia-related legal cases a year; today, she handles about four every month. Specialist geriatric psychiatrists note that roughly 40% of people over the age of 80 suffer from some degree of cognitive decline. To help us navigate this tricky legal and financial terrain, we brought in David Thomson, a certified financial planner and long-standing fiduciary expert. Our conversation was an eye-opener about the importance of acting early, preserving dignity, and understanding the available legal tools. This series is brought to you by GoTyme Bank. New episodes of Money: It’s Not Black or White with Maya & Mapalo go live every second Wednesday.