- Hospital admissions & discharge
- Needs assessment
- Being a carer
- Benefits for carers
- Carers' rights at work
- Reassessing care needs
- Talking about care options
Reasons for managing someone else’s money
Your loved one might need help to manage their finances for a number of reasons, including the following:
- They are suffering from dementia, or have another condition likely to affect their capacity to understand and make decisions. Our guide to dementia gives advice on how to identify when someone is struggling and what steps you can take to help them.
- They have a physical disability that makes it difficult to carry out certain tasks, such as a mobility problem, which makes it difficult to visit the post office or the bank; a dexterity problem, which prevents them from writing cheques, or a sight-related problem, such as macular degeneration, which means they find it difficult to read official forms.
- They are becoming confused or overwhelmed with all the details and simply want a helping hand.
- They are temporarily unable to deal with things, for example being ill or in hospital.
Talking about the problem
Your loved one might ask you for help, or you might notice that they’re struggling and have to raise the subject yourself. Starting a conversation about care can be difficult; read our advice to help overcome worries.
The right way to do things will be determined by your loved one’s health and personal circumstances. If they’re still mentally capable of making decisions, things are relatively straightforward. For more information about determining mental capacity, see this advice from the Mental Health Foundation.
How setting up a Power of Attorney can help
If you’re concerned your loved one might lose the ability to take care of their finances long term due to illness, it’s possible to grant someone legal permission to manage their money. Appointing a ‘Power of Attorney’ allows someone to manage their day-to-day finances, such as paying bills and banking.
From reviewing your pension options to making a will, here’s how to put a financial plan in place for later life.
How to help yourself or a trusted family member to deal with financial affairs, including using third-party mandates.
What is a Power of Attorney and why should you set one up? We also explain about Lasting Power of Attorney.
Care homes and support at home near you
Use our directory to find local care homes, home care agencies and carer support services across the UK.
Gifting assets & property
It’s important to know the implications of gifting money, property or other assets, whether you’re giving them away or the person receiving them.
Home care finance
Find out about the options for financing domiciliary care, including local authority and NHS funding, personal budgets, self-funding and equity release.
Care home finance
We explain all that you need to know about how to pay for a care home, looking at the range of care home fees and how to get local authority funding.
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