Top Financial Tips for People With Dementia Mark Start of Partnership Between Lloyds Banking Group and Alzheimer's Society

Top Financial Tips for People With Dementia Mark Start of Partnership Between
                 Lloyds Banking Group and Alzheimer's Society

  PR Newswire

  LONDON, March 28, 2013

LONDON, March 28, 2013 /PRNewswire/ --

LloydsBankingGrouphaslaunchedasetofmoney
managementtipsforpeoplewithdementiaandtheircarerstokick-starttheirtwoyear
charitypartnershipwithAlzheimer'sSocietyandAlzheimerScotland.

ThetwocharitiesandLloydsBankingGroupplantotacklesomeoftheproblems
facedbypeoplewithdementiaandtheircarerswhendealingwithpersonalfinances,
exploringwaystomakethebankingsectormore'dementiafriendly'.Thisbuildson
workthat LloydsBankingGroup
hasalreadybeendoingaspartofthe'Dementia
FriendlyCommunitiesChampionGroup',ledbyAlzheimer'sSocietyandsetupin
March2012asaresultofthePrimeMinister'sChallengeonDementia.

The initiative complements the Group's Money for Life financial education
programmethatisdesignedtosupportcommunitieswithmoneymanagement,
includingtrainingthousandsoforganisationstodeliverface-to-facesupportto
vulnerablegroups.

Today'slaunchofthetoptipsisafirststepbythepartnerstoencouragepeople
livingwithdementia,theirfamilymembersandcarerstothinkaboutwhattheyneed
todotofuture-proofthemanagementoftheirfinances.Thetoptipsinclude
informationfromarrangingapowerofattorneyandapplyingforthecorrectbenefits,
to organisingbankaccounts .

AngelaRippon,co-chairoftheDementiaFriendlyCommunitiesChampiongroupand
Alzheimer'sSocietyambassadorsaid:

'Dealingwithfinanceswhenyouarelivingwithdementiacanbeaminefield.People
intheearlystagesoftheconditionoftenfeellockedoutofthesystem,withallthe
manypasswordsandpersonaldetailstheyareexpectedtoremember.

'Whenacarertakesover,thepressureofgettingtogripswithpowerofattorneyand
tryingtomakedecisionsinthebestinterestsofalovedonecanbeverystressful.

ThesetoptipsfromLloydsBankingGroupandAlzheimer'sSociety'sLiveWell
partnershipareagreatguidetohelpnavigatewhatcanbeareallytrickytime.'

Overthe courseofthepartnershipLloydsBankingGrouphopetoraiseatleast
£2milliontofund'LiveWell'-Alzheimer'sSociety'sfirstUK-widesupportprogramme
forpeoplewithdementiaandtheircarers.Thispioneeringcampaignwillprovidelife-changingguidancecoveringtopicssuchascopingwithchallengingbehaviour,
communicationandlegalandfinancialinformation.

GrahamLindsay,ResponsibleBusinessDirectoratLloydsBankingGroupsaid:

'With44percentofpeopleintheUKconnectedtosomeonelivingwithdementia,we
knowthatmanyofourcolleaguesandcustomerswillbeaffectedbytheconditionat
somepointintheirlives.

'Byfundingthe'LiveWell'programme,wehopetoeducatepeopleinhowtodeal
withdementiaandlivethebestpossiblequalityoflife.Today'slaunchofourtoptips
willserveasavaluableguideonhowtoplanfinanceswhendealingwithcondition.

Welookforwardtoworkingonothersimilarinitiativesasourpartnershipprogresses
andwillensurethatourworkinfinancialeducationthroughtheMoneyforLife
Programmewillbeextendedtohelpthoselivingwithdementia.'

LizMonks,DirectorofFundraisingatAlzheimer'sSocietysaid:

'Copingwithadiagnosisofdementiaisalottotakein,butit'sreallyimportanttostart
planningyourfutureaswellasthinkingaboutyourimmediateneeds.Thetoptipswill
helppeopledojustthat.

'WearethrilledtobepartneredwithLloydsBankingGroupforthenexttwoyears.
Themoneyraisedwillenableustoimprovethelivesofthousandsofpeoplewith
dementiaandcarersacrossthecountry.'

The  Live  Well  financial  top  tips  for  people  with  dementia 
and  their  carers

(  http://www.alzheimers.org.uk/moneytoptips  )

Top  tips  for  managing  money  if  you  are  living  with 
dementia

1.Discussmoneymanagementwithyourfamily-Moneycanbeadifficult
subjecttotalkaboutbutit'simportantyouplanhowyouwantyourfinancesto
bemanagedifyoubecameunabletolookafterityourself.

2.Makesurethatallimportantpapersareinorderandthatyouknowwhereto
findthem.Thesemightincludebankstatements,mortgagedocuments,
insurancepolicies,awill,taxandpensiondetailsandbillsorguarantees.

3.Ifyouhavefinancialassets,suchaspropertyorsavings,youcansetupa
trust.Thisensuresthattheassetsaremanagedinawaythatyouchoose,

bothnowandinthefuture.Thereareanumberofdifferentkindsoftrustsand
waysofarrangingthem.

4.Setupalastingpowerofattorney(LPA).Thisenablesyoutochoose
someoneyoutrusttomakedecisionsonyourbehalfaboutthingssuchas
payingbillsandcollectingincomewhenyounolongerwanttomakethose
decisions.It'simportantyousetupanLPAearlysothatyoucangiveyourfull
andinformedconsent.

5.Speaktothelocalbankmanager.Thediscussioncanlookatextrasupport
thatmaybeavailableasyourconditionprogressesandwaysofmanaging
moneye.g.usingasignaturecardinsteadofaPINnumber.

Top  tips  for  carers  managing  the  money  of  a  person  with 
dementia

1.Makesureyourlovedoneisreceivingallthebenefitstowhichtheyare
entitled.ContactyourlocalofficeoftheDepartmentforWorkandPensionsor
CitizensAdviceBureautofindoutexactlywhatshouldbebeingreceived.As
acarer,youmayalsobeentitledtobenefitssuchasCarer'sallowance.

2.Forsome,ajointaccountmaybeausefulwayofmanagingfinancesinthe
earlystagesofdementia.However,mostjointbankaccountsaresetupto
operateonlywhenbothpartieshavecapacitytouseit.Ifabankknowsthat
someoneisactingasalastingpowerofattorney,theywillusuallywanta
separatebankaccountforthatperson.

3.Separatingyouraccountwhenitcomestopayingforcareitisalsoadvisable.
Thisisbecausealocalauthorityoughttobemeanstestingthepersonwhois
inreceiptoftheservice(e.g.homecareorresidentialcare),andnooneelse.

4.Protectyourlovedone'sfinancesbystoppingjunkmailandunwanted
telephonecallsbysigninguptotheMailingandTelephonePreference
Services.Puta'nocoldcallers'signonthedoor.Thesecanbeobtainedfrom
thelocaltradingstandardsdepartmentandwillhelppreventdoor-to-door
salesmenfromvisiting.

5.SpeaktoAlzheimer'sSocietyaboutattendingtheLloydsBankingGroup
fundedLiveWellprogramme.Theprogrammeeducatescarersandpeople
withdementiaabouthowtodealwitheverydaylifeandhowtoplanforthe
future,includingadvicerelatedtomoneymanagementandfinances.

Photograph  of  Angela  Rippon  and  the  Live  Well  campaign  logo
 attached.

Notes  to  editors:

Throughout2013/14,LloydsBankingGroupwillbeworkingwithAlzheimer'sSociety
andAlzheimerScotlandtoraiseover£2milliontohelpimprovethelivesofthousands
ofpeoplewithdementiaandtheircarers.

Theirpioneering'LiveWell'programmewilleducatepeoplewithdementia,their
carersandfamiliesabouthowtocopewithdaytodaylifeandhowtoplanforthe
future.

Byworkingtogether,LloydsBankingGroup,Alzheimer'sSocietyandAlzheimer
Scotlandwillraiseawarenessoftheproblemsfacedbypeoplewithdementiaand
theircarerswhendealingwithpersonalfinances,exploringwaystomakethe
bankingsectormore'dementiafriendly'.

Money  management:

Furthertoptipsformanagingyourfinancesthrougharangeoflifeevents-including
bereavementandretirementcanbefoundontheMoneyforLifewebsiteat

http://www.moneyforlifeprogramme.org.uk/moneymanagement

Customer Relations 25 Gresham Street, London, EC2V 7HN T. 0 0800 414 717E.
customerrelations@lloydstsb.com Website: http://www.lloydstsb.com