Can a Person Diagnosed with Dementia Get a Loan?

A person diagnosed with dementia probably can't sign loan documents unless they have someone who can act for them, such as an agent under a durable power of attorney or a guardian or conservator.  

Dementia and Incapacitation 

Read our article that explains what incapacitation means in estate planning and elder law. Basically, once a person has been determined incapacitated, they can’t make personal decisions or understand legal documents. That is why individuals designate powers of attorney while they are still healthy. Once dementia has progressed, a loved one or caregiver may seek guardianship or conservatorship to make decisions for them. 

Notarizing Legal Documents 

Also, in our article Notarizing Documents for Seniors with a Dementia Diagnosis, we talk about getting notarized legal documents before it becomes too late. However, there are some risks associated with elder abuse and fraud allegations. We share some tips and conditions that might cause a notary to refuse to notarize a document. 

You can always contact an elder law elder law attorney near you for more advice specific to your state and situation.

Harry S. Margolis practices elder law, estate, and special needs planning in Boston and Wellesley, Massachusetts. He is the founder of and answers consumer questions about estate planning issues here and at