Today it is estimated that over 6 million Americans are living with Alzheimer’s, with that number projected to hit 14 million by 2060. While this disease can affect any age, one’s chances doubles every five years after age 65. If your loved one who Alzheimer’s, it is imperative to discuss legal planning now before their memory gets any worse.
Alzheimer’s is a progressive brain disease that includes dementia symptoms such as memory loss and increased difficulty in carrying out daily activities. In the early stages, memory loss can be mild. However, this tends to only worsen over time until the individual cannot respond to their environment properly. If your loved one has been diagnosed with Alzheimer’s, then you should take steps NOW in legal planning to include:
- Reviewing existing legal documents and making updates.
- Make sure who to appoint as one’s agent to ensure they are properly taken care of.
- Using legal tools to fulfill your future health preferences
- Determining how long-term care will be paid for.
Estate planning is a vital step to protect your loved ones. This will allow for your loved one’s wishes to be met when they are not able to make them happen themselves. According to the Alzheimer’s Association, a proper elder care plan includes a durable power of attorney, health care proxy, living will, last will and sometimes a trust.
- Durable Power of Attorney – A legal document that allows an individual to grant decision-making power to another. This power allows someone of your loved one’s choosing to make decisions on behalf of your loved one.
- Health Care POA – A legal document that allows an individual to make healthcare decisions on behalf of your loved one.
- Living Will – A written statement that explains an individual’s end-of-life wishes. This includes specific instructions on what they want towards the end of their life.
- Last Will – A legal document that distributes certain assets to certain people after the death of your loved one.
- Trusts – Unlike a Will, a trust can avoid the probate process. Additionally, Asset Protection Trusts are commonly used to safeguard assets when planning or applying for government benefits such as Medicaid.
The best way to protect yourself and your loved ones is to contact your local elder law attorney to determine the best plan for you. It’s best to do this early as waiting can make the process harder, especially if late-stage Alzheimer’s is involved. This plan will protect the most important qualities of one’s life. Make sure you and your family are protected.