6 million Americans live with Alzheimer’s, and it is projected to reach 14 million by 2060. This progressive brain disease causes memory loss and difficulty with daily activities and worsens over time. This is why it’s critical to plan while you have time.
Protect your loved one with legal planning:
- Reviewing existing legal documents and making updates.
- Making sure who to appoint as one’s agent to ensure that 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 protecting your loved ones. This will allow for your loved ones’ wishes to be met when they are not able to make them. 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 testament and sometimes a trust.
- Durable Power of Attorney– A legal document that allows an individual to grant power to another. This power allows someone of your loved ones choosing to make decisions on behalf of your loved one.
- Health Care Proxy– 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 and Testament– A legal document that distributes certain assets to certain people after the death of your loved one.
- Trusts– A legal tool that provides protection and legal transfer of the title of a property such as a home. This is then held by an appointed person to be distributed by the grantor’s wishes. This is commonly used to safeguard assets when 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.
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Jamison Bonds, VA Accredited Attorney
One of the many benefits of being an elder law attorney is getting to work with selfless clients who act not out of their own self interest, but out of a deep concern for the people they love. That’s why I love helping families enjoy peace of mind and protect their hard-earned assets.
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Over the course of nearly a decade, we’ve helped more than 1,200 of your neighbors with their estate planning and elder law needs. Now we can help you achieve the best possible outcomes for your family.