Legal and Financial Planning for Alzheimer's Loved Ones

The Alzheimer’s Association Advises Legal Plans Should be Established so those with Dementia can be Involved in Decision Making About Their Future Care.

It eases the strain on families who take care of those with dementia. Every 65 seconds someone in the United States develops Alzheimer’s. Antanavage Farbiarz believes it is needed to plan for dementia of a loved one.

One of the hardest decisions comes from times of extreme distress, but it is vital for elderly care. Alzheimer’s disease and other dementia related diseases are common for the elderly. It is so common that about 5.4 million Americans age 65 and over have the disease. To put it in simpler terms, one in nine people have Alzheimer’s. Although there is no cure for this disease yet,  everyone involved has a plan to help in regards of legal and financial planning. This form of dementia has no cure, but is livable for years. In fact, those diagnosed with Alzheimer’s disease live 8 to 10 years with some living 20 years or longer. The two fronts that need to be covered for Alzheimer’s disease are legal and financial planning.

Legal Planning

According to Alzheimer’s Association, legal planning should cover health care, and long-term care. That includes finances and property.  An important question is who will be the caregiver of the sufferer of Alzheimer’s. When it may be time to create legal documents, and the person already has dementia, explain to them what they are signing. We insist you meet with an attorney who can help determine what would work best for the loved one. Alzheimer’s Association says three key issues that need to be discussed with a lawyer are: health-care decisions, managing personal care, and long-term care options.

Financial Planning

Financial assistance for health care coverage can come from Medicare, Medigap insurance, Medicaid, and other private health insurance institutions. Lastly, all options should be searched to find out what is and isn’t covered by each insurer. More than 16 million Americans are caregivers to those with Alzheimer’s or other dementia diseases are unpaid for their services. Meaning if you are taking care of a loved one you are not being paid.

Antanavage Farbiarz understands that dealing with dementia is not an easy situation for all the parties. Please contact us at (610) 562-2000 or use our convenient online form and we will be happy to help you.