No 8B Estate Agency Businesses and Dementia [Update 4 - 07/11/13]

This Post is exploratory and raises, firstly, the services needed by seniors in general possible concerns that an estate agent may have that arise from the need for a person with memory problems or dementia to move from his or her home. It is written by one who is not an expert! Legal advice should be sought as appropriate in the circumstances. [Post No8C will explore the options for selling or letting with property, together with something of the taxation consequences.]

[It may be noted that in many parts of the country only about 50% of those with dementia have been diagnosed with the the condition. In the area of the Dartford, Gravesham and Swanley CCG the percentage is targeted to become about 60% by 2015.]

Estate Agents may be approached about selling (or possibly, renting out) a home owned by a such a person. The approach may be made by: a) the person alone, b) by the person accompanied by a family member or the carer, or c) by a person with power of attorny - a family member, carer, friend or a professional.

The purpose behind such an approach might include the likes of:

• An intention to downsize into a smaller home or to a care home
• An intention to move to be near a member of his or her family
• An intention to move into a larger house with a family member's family. 

The first, perhaps basic, concern might be with the estate agency's staff having awareness of dementia and the need to conduct meetings discussions, telephone calls, visits, correspondence and the like in an appropriate manner. Managers and staff may need to be inducted, trained and developed in dementia awareness in terms of:

• the kinds of dementia [see Post No 18], and
• the symptoms as manivest in certain kinds of behaviour. 

The second concern is likely to be whether managers and staff have had training and experience concerning the legal capacity of the person wishing to sell (or buy) a property. Normally the person's solicitor would be expected to advise on such matters. 

If the person has been diagnosed, it may be that they do have legal capacity or that they made arrangements for lasting power of attorney to be held by another by a family member, etc [see Post No 17]. Where the dementia is advanced the estate agent may need to ascertain whether legal documents exist concerning estate and financial affairs and wishes of the person with dementia. This type of information will be available from the person with any valid lasting power of attorney or legal advisor.

At least one estate agency has developed an action plan under their town's Dementia Action Alliance. It emphasises the need for staff training in awareness of dementia and the kind of customer service needed for those with dementia. 

14 Personal Finance and Funding for a Person with Dementia [Update 2 - 03/11/13]

Personal finance and funding will vary with each individual's circumstances - so this Post is necessarily an overview. For some each 'stage' of life with dementia is likely to reveal a need for thinking about money.

This series of Posts examines the likely needs of two broad age-related groups where a person may be one of those who begins a life with dementia, namely:

1. the mature perhaps retired individual (say, 65 years or more) in their own mortgage-free home or renting in social or private housing.
2. relatively uncommon, the person who is of working age, perhaps supporting a spouse and children, with a mortgaged or rented home.

Approximately one percent of those with dementia are in the second group. The bulk are those over 65 years of age. Here each ten years of life results in more developing dementia, eg at 95 years nearly a third will have dementia. [You may like to note that only about 50% of about 800,000 with dementia have been diagnoseed.]

The main costs are likely to be centred on the following:

• early assessment, diagnosis and initial treatment
• longer-term clinical and other medical expenses (Generally, in the UK these are a cost on the National Health Service paid through national taxation.) 
• daily personal care costs and expenses
•  longer term care accommodation costs.

Sources of funds (income or capital) will depend on a person's estate, ie comprising the likes of the following:

• income from employment or business, including that of a spouse or partner
• income from pensions and state pensions
• the individual's home, ie owner-occupied house or flat  
• income and/or potential capital from property investments, eg house or flat,
• interest on bank or building society deposits,
• insurance policies - to mature or to cash in
• other kinds of savings, 
• premium bonds 
• shares, government bonds, and other like investments
• antiques and other chattels
• any entitlements to other state benefits, eg care costs.

8A Financial Businesses and Support for those with Dementia [Update 1 1/11/13]

Post 8 sets out the general background for businesses to be more dementia friendly in our communities - cities, towns and villages.

It has been announced today that about 170 national financial businesses, eg banks, building societies, are to adopt more dementia friendly business practices and operations so as to give support to those with dementia, carers and families.

Staff awareness and training programmes will be undertaken to ensure staff are able to recognise, and so discreetly help a customers with dementia. One example was the setting-up of Power of Attorney for the financial affairs of a person who is unable to cope with numbers, eg on a keypad, but otherwise can cope generally with matters. The dementia friendly aspect is that whereas this setting-up operation might previously have taken four days, it now be a matter of say 20 minutes.

In NW Kent, including Swanley, it is likely that the local branches of the national financial groups are beginning to be encouraged to become aware of the refreshed and new policies towards those living with dementia. Specific training on new approaches to operations is likely to come within months.