Money and the Perils of Dementia
Many families don’t expect that dementia will be a factor in financial decisions, but it is more common than we think. The challenge is that people can start having trouble managing their finances years before being diagnosed with dementia. Our expert panel delves into this subject so you will recognize when a loved one's capacity is declining and what to do about it.
They will explain a dementia diagnosis, the implications of this condition on our planning abilities, and suggestions on how to create an advance directive with this outcome in mind.
They will also discuss how families can navigate their financial matters, with their advisors, if faced with the unexpected issues of dementia. They will share some examples of the best practices of individuals and families who successfully prepare for the possibility of dementia, and share some pitfalls of not planning ahead for this increasingly common experience. The concept of having or losing the capacity for financial decision-making is vague to most people. Yet it is understandable when you know the legal components of financial capacity.
The concept of preparing for a loss of capacity can be a scary thing to face. Yet it can be comforting to learn the definite ways to manage your financial affairs, so they can be handled in your best interests and in line with your values and expectations.
About the Speakers
Catherine A. Madison, M.D., founded the Ray Dolby Brain Health Center at CPMC, a multidisciplinary center focused on the diagnosis and treatment of individuals with cognitive impairment. She currently works with Seniors At Home, supporting clients with cognitive impairment by helping their families better navigate medical complexities and strategic planning.
Gretchen Hollstein, CFP, has more than 25 years of experience providing investment and financial advisory services to individuals and families, including helping them plan ahead for supporting aging family members. As an advisor with boutique wealth management firm Litman Gregory, she has been recognized by Forbes as one of the best-in-state wealth advisors and top national women wealth advisors.
Natalie Oh, CLU, is an insurance professional with more than 25 years experience helping families protect and preserve their assets for future generations or philanthropic interests. She attended law school in Chicago and clerked at the Cook County State’s Attorney’s office, where she saw first-hand, the dangers of predatory behavior and has cultivated her practice to ensure the clients’ best interests are always served.
Catherine A. Madison
M.D., Founding Director, Ray Dolby Brain Health Center, California Pacific Medical Center
CFP, Senior Wealth Advisor and Managing Director, Litman Gregory Wealth Management
CLU, Insurance Professional, Taran Insurance Advisory
Chair, Grownups Member-Led Forum, The Commonwealth Club of California—Moderator