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Impaired Financial Capacity in Late-Life Depression: Revisiting Associations with Cognitive Functioning

Published online by Cambridge University Press:  06 August 2019

Ruth T. Morin Open the ORCID record for Ruth T. Morin [Opens in a new window] ,
Mitzi M. Gonzales ,
David Bickford ,
Daniel Catalinotto ,
Craig Nelson  and
R. Scott Mackin
Ruth T. Morin*
Affiliation:
Mental Health Service, San Francisco VA Health Care System, 4150 Clement Street, San Francisco, CA 94121, USA
Mitzi M. Gonzales
Affiliation:
Department of Neurology, University of Texas Health Science Center, 7703 Floyd Curl Dr, San Antonio, TX 78229, USA
David Bickford
Affiliation:
Department of Psychiatry, University of California, San Francisco, 401 Parnassus Ave, San Francisco, CA 94143, USA
Daniel Catalinotto
Affiliation:
Department of Psychiatry, University of California, San Francisco, 401 Parnassus Ave, San Francisco, CA 94143, USA
Craig Nelson
Affiliation:
Department of Psychiatry, University of California, San Francisco, 401 Parnassus Ave, San Francisco, CA 94143, USA
R. Scott Mackin
Affiliation:
Mental Health Service, San Francisco VA Health Care System, 4150 Clement Street, San Francisco, CA 94121, USA Department of Psychiatry, University of California, San Francisco, 401 Parnassus Ave, San Francisco, CA 94143, USA
*
Correspondence and reprint requests to: Ruth T. Morin, San Francisco VA Medical Center, 4150 Clement Street, Mental Health Service, San Francisco, CA 94121, USA. E-mail: ruth.morin@va.gov
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Abstract

Objectives:

Impairment in financial capacity is an early sign of cognitive decline and functional impairment in late life. Cognitive impairments such as executive dysfunction are well documented in late-life major depression; however, little progress has been made in assessing associations of these impairments with financial incapacity.

Methods:

Participants included 95 clinically depressed and 41 nondepressed older adults without dementia. Financial capacity (assessed with the Managing Money scale of the Independent Living Scale), cognitive functioning (comprehensive neuropsychological evaluation), and depression severity (Hamilton Depression Rating Scale – 24) were assessed. T tests were used to assess group differences. Linear regression was used to analyze data.

Results:

Depressed participants performed significantly lower on financial capacity (t = 2.98, p < .01). Among depressed participants, executive functioning (B = .24, p < .05) was associated with reduced financial capacity, controlling for age, gender, education, depression severity, and other cognitive domains.

Conclusions:

Our results underscore the importance of assessing financial capacity in older depressed adults as they are likely vulnerable to financial abuse even in the absence of dementia. It will be valuable to assess whether treatment for depression is an effective intervention to improve outcomes.

Keywords

DepressionCognitive dysfunctionAgingNeuropsychologyCognitionFunctionally impaired elderly
Type
Brief Communication
Information
Journal of the International Neuropsychological Society , Volume 25 , Issue 10 , November 2019 , pp. 1088 - 1093
Creative Commons
This is a work of the U.S. Government and is not subject to copyright protection in the United States.
Copyright
Copyright © INS. Published by Cambridge University Press, 2019

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