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Recent Posts
How Insurance Deductibles Work

An insurance deductible is the amount you, the insured, pay before any claim is paid ...

The post How Insurance Deductibles Work first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Enhancing Estate Planning through Heir Involvement

Estate planning goes beyond legal formalities; it’s an essential process that facilitates meaningful family dialogue ...

The post Enhancing Estate Planning through Heir Involvement first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Social Security, Medicare, and HSAs

If your employer health plan is a health savings account (HSA) paired with a high-deductible ...

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Drawing a Connection Between Dementia and Financial Planning

September 27, 2018

It can be very difficult to understand the teamwork approach required to protecting yourself in the age of dementia. The very concept of financial or estate planning around dementia is a very complex matter since the development of the disease can vary from one patient to another. The way that the disease develops inside a patient’s body can be subtle or gradual and it can even develop abruptly in one person whereas slowly in another.

The symptoms of dementia and the diagnosis of dementia can leave loved ones feeling confused or even hopeless and the person who has been diagnosed with the condition may not realize the many ways in which his or her life is about to change.

Coping with these many mental and physical alterations mean that more mundane concerns like financial planning can be completely ignored. There are some important steps to take when you believe that dementia could be a risk. Financial professionals, designated decision makers, physicians, caregivers and elder care specialists can all provide some insight about how the person’s life might change in light of a dementia diagnosis. Since it can be impossible to understand just how quickly a dementia diagnosis can develop into a serious condition, you need to be prepared by considering the possibility early on when you notice the potential signs of dementia. estate-planning-dementia-planning

The sooner that you can consult with your physician and attorney regarding estate plans and necessary documents to have in place, the easier it will be to cope with an already difficult situation. If you do not currently have an estate plan but recognize the potential for a sudden incapacitating event or the diagnosis of an issue tied to cognitive decline like dementia, you need to take action sooner rather than later to protect yourself.

The support provided by an experienced estate planning or elder law lawyer can help to clarify many of the different issues you might not even have considered prior to speaking to a professional. Elder and estate planning lawyers who’ve worked with patients in this situation before would be familiar with many of the common obstacles, concerns and questions that you might bring to the table when trying to plan. Consulting with an attorney as soon as possible after receiving the diagnosis is instrumental, particularly if the disease were to develop rapidly.

 


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Schedule your free Exploratory phone call

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can be of assistance.

Careers/Open Positions

Explore all available job
listings and become a part of an amazing team.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts
How Insurance Deductibles Work

An insurance deductible is the amount you, the insured, pay before any claim is paid ...

The post How Insurance Deductibles Work first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Enhancing Estate Planning through Heir Involvement

Estate planning goes beyond legal formalities; it’s an essential process that facilitates meaningful family dialogue ...

The post Enhancing Estate Planning through Heir Involvement first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Social Security, Medicare, and HSAs

If your employer health plan is a health savings account (HSA) paired with a high-deductible ...

The post Social Security, Medicare, and HSAs first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more