4 in 10 adults unprepared for the financial impact of dementia as key family conversations go unsaid

Four in ten unprepared for the financial impact of dementia - Credit Connect

Fewer than one in ten (9%) adults with living parents have discussed how finances should be managed if they developed a condition such as dementia. This is despite more than half (53%) saying they would feel comfortable having the conversation, according to new research from Nationwide. A lack of preparedness means that nearly a quarter…

4 in 10 adults unprepared for the financial impact of dementia as key family conversations go unsaid

Only 9% have discussed how a parent's finances should be managed if they developed dementia, despite 53% saying they would feel comfortable having the conversation 41% say their household would be financially unprepared if dementia affected their immediate family 33% say nobody in their immediate family has a power of attorney in place, while 16% don’t know if one exists Only 6% believe they could afford dementia-related costs without changing t…