Caring for dementia sufferers

Some spouses of people with dementia had inquired about setting up funds for their loved ones, as the trusts provides them with the assurance that the funds wil be administered for the care of their loved ones who lack mental capacity to manage their financial affairs.

Under the Mental Capacity Act, a person can appoint a trusted individual to make decisions for him in the event he loses his mental capacity. The person can also instruct a caregiver to set up a trust with SNTC so the caregiver does not need to be accountable for financial matters.

The projected sums needed may seem large, but often caregivers will make the fund the beneficiary of their property or investments upon their demise.

This sharing by Ms Esther Tan, general manager of SNTC, first appeared in The Straits Times in 2010.

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