Estate planning wise after an Alzheimer’s diagnosis

| Aug 2, 2019 | Estate Planning

Having a loved one with Alzheimer’s disease can be difficult. Though many people in Colorado and across the country receive this diagnosis, the progression of the disease and the way it affects each individual can differ. In any case, it is wise for families to consider their estate planning options after learning this news.

Hopefully, individuals will seek medical advice soon after the signs of memory issues or other cognitive decline begin to present themselves. Taking action early could allow the affected person to still have the ability to express his or her wishes for care and end-of-life matters as well as better understand the diagnosis, at least for a time. Additionally, it is wise to have the entire family informed of the diagnosis and to have them participate in the conversation regarding estate planning.

Next, it is important to put someone in charge of financial matters and address medical decisions. Naming a power of attorney agent can allow that person to make important decisions on behalf of the affected individual when he or she is no longer able to do so. An advanced medical directive can also prove useful as it will allow the affected person to make decisions regarding future care he or she may want.

It is impossible to perfectly predict the future, and because of that, planning ahead can be difficult. Still, starting the estate planning process can help address important aspects of a person’s life and estate and at least give loved one’s instructions to work from. If Colorado residents are ready to begin creating their estate plans, they may want to speak with attorneys experienced in this area of law.