Impaired financial capacity in late-life depression: Revisiting associations with cognitive functioning

Ruth T. Morin, Mitzi M. Gonzales, David Bickford, Daniel Catalinotto, Craig Nelson, R. Scott Mackin

Research output: Contribution to journalArticle

4 Scopus citations

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.

Original languageEnglish (US)
Pages (from-to)1088-1093
Number of pages6
JournalJournal of the International Neuropsychological Society
Volume25
Issue number10
DOIs
StatePublished - Nov 1 2019

Keywords

  • Aging
  • Cognition
  • Cognitive dysfunction
  • Depression
  • Functionally impaired elderly
  • Neuropsychology

ASJC Scopus subject areas

  • Neuroscience(all)
  • Clinical Psychology
  • Clinical Neurology
  • Psychiatry and Mental health

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