Financial advisers should consider the possibility that a client may one day lose the capacity to manage their own affairs before families are confronted with urgent financial and legal decisions, according to the Association for Dementia and Alzheimer’s of South Africa (ADASA).
ADASA, a non-profit organisation founded in 1985 that provides support, education, and training relating to dementia, says planning for diminished decision-making capacity should form part of the financial planning conversation rather than being addressed only when a crisis arises.
This issue will be explored during a webinar on 28 August, titled When Tomorrow Looks Different: Preparing Families Before Difficult Decisions Become Urgent.
ADASA says the need for the webinar emerged from its engagement with caregivers, financial and legal advisers, fund managers, and communities during seminars and other interactions about dementia.
These engagements revealed that information is fragmented, and there are misconceptions about what happens when a person loses the mental capacity to manage their own affairs, as well as about the legal pathways and mechanisms that may then be available.
One area of misunderstanding identified by ADASA concerns what happens to a power of attorney when a person loses mental capacity. It says this issue, together with South Africa’s lack of an enduring power of attorney, underscores the importance of planning before capacity becomes an issue.
“Early planning is the way to mitigate the risk, and the eventuality should actually become part of financial planning,” ADASA says.
There is also uncertainty about the options available when someone can no longer manage their financial affairs. The webinar will examine the different legal pathways, mechanisms, and processes that may be relevant in these circumstances.
ADASA says decisions can become particularly sensitive when someone is losing the capacity to manage their own affairs. Advisers therefore need to be conscious of potential biases and consider how difficult decisions can be approached ethically.
The webinar will bring together the financial planning, legal, and ethical dimensions of preparing for and navigating changes in decision-making capacity.
Suzelle Jooste, senior legal adviser manager at Old Mutual Personal Finance, will discuss financial planning for families facing dementia. Her session will cover why planning should start early, financial resilience and legacy planning, funding future care, and planning structures such as special and umbrella trusts.
Chamonie Buys, director at Tomlinson Mnguni James Attorneys, will focus on what happens as decision-making capacity changes. Her session will examine powers of attorney, living wills, curatorship, and administrators, as well as provide practical guidance on the processes and options that may become relevant.
Dr Janette Minnaar-van Veijeren, chief executive and director of ProEthics, will address the ethical dimension of decision-making, including unconscious bias, balancing different interests, and the roles of curators and trustees.
Every delegate will receive the ADASA Financial Decision-Making Guideline eBook. According to the association, the guide provides information on relevant processes, available tools, and factors to consider when deciding on an appropriate course of action in particular circumstances.
The webinar is aimed at financial advisers, attorneys and fiduciary practitioners, retirement fund and employee-benefit professionals, healthcare professionals, and families and caregivers. It will take place online on Friday, 28 August 2026, from 9am to 12pm. CPD approval is pending.
Early-bird registration costs R400 per person until 25 July, after which the standard fee is R450 per person.
Click on this link to register for the webinar.
