Forex Articles

In every child's life, there comes a point where it is necessary for them to take command of their parents' or guardians' worldly affairs, and knowing when this time has come can be difficult to determine in some cases. But there are a few signs that can clearly indicate that this time is approaching for those who know what to look for. Here is a list of the possible indicators that your parents or former guardians are no longer able to manage their own affairs and are in need of intervention.

• Unpaid bills or overdrawn accounts – At some point, balancing a checkbook or paying bills can become an overwhelming task that is finally left undone on a regular basis. Get your parents' permission to look through their financial records to make sure that they are still aware of and current on their obligations. You may want to talk to their banker or broker as well to see if they have made any sudden financial changes that do not make sense. (For more, see: Top 5 Strategies to Pay for Elder Care.)
• Slurred speech and forgetfulness – One of the key signs of dementia is a decrease in memory and mental retention. If you see your parents leaving objects in strange places, like putting a hat in the dishwasher, then this is probably a sign that it is time for intervention.
• Abnormal behavior or speech – Although they can still talk clearly enough to be understood, they may say strange things, such as uttering profanity in public or at inappropriate times in a way that they never have before. They may also fail to dress appropriately for the weather and wear shorts outside when it is snowing. These signs of confusion can be telltale indicators that their mental capacities are failing them.
• Chores that are unfinished – If your parents or guardians were previously very neat people, and their residences and cars have become uncharacteristically unkempt for no apparent reason, then this could be cause for concern. Other chores that are left undone such as laundry that has piled up, home repairs that are unfinished and large stacks of dirty dishes may indicate a lapse in mental presence as well. (For more, see: 6 Best Tips for Caring for Aging Parents.)
• Missing medical appointments – Although missing an appointment on occasion probably isn't cause for alarm, a continual pattern of missing them can indicate a more serious problem. Continually forgetting to take medications can also be a symptom of short-term memory loss or perhaps depression. And, of course, missing on these issues may lead to other health problems, such as the manifestation of other symptoms that their prescriptions would alleviate.
• Declining mobility – Although the person may still be mentally sharp, if he or she is now unable to move or get around very easily, then managing personal affairs can become difficult. If they are struggling with getting on and off the commode or into and out of bed or their car, then they are much less able to care for themselves and will probably need outside help. (For more, see: Surprising Ways a Trust Can Help Your Family.)

When the time comes for you to take over managing your parents' affairs, a conservatorship may be necessary, but this process can drag on for a long time and require court appearances by both you and your parents or former guardians. A simpler method is to have them complete their estate plans while they are of sound mind and body and can sign durable powers of attorney that will give you the authority you need to step in when the time comes. (For more, see: 5 Estate Planning Tips.)