The article “Week’s Best: Dementia and Family Finances” from Barron’s Advisor discusses the importance of financial planning and support for families dealing with dementia. The piece highlights the role of financial advisors in providing guidance and support during this challenging time. It notes that dementia affects approximately 4% of adults aged 65 and older in the United States, with this rate increasing to 13.1% among those aged 85 and above.

The article emphasizes the critical need for financial advisors to be aware of the legal and financial steps to take after a dementia diagnosis. It suggests that financial advisors can play a key role in helping families manage the financial implications of dementia, which can include managing assets, creating a power of attorney, and ensuring that financial decisions are made in the best interest of the individual with dementia.

The article also mentions that financial advisors are often the first to spot the signs of dementia due to their professional experience and ability to recognize symptoms. This early detection can help families prepare for the future and make informed decisions about their financial planning.

The article concludes by emphasizing the importance of financial advisors in supporting families during this difficult period, highlighting the significant impact they can have on the lives of those affected by dementia.