Legal and Financial Planning for Alzheimer's Loved Ones

The Alzheimer’s Association advises that legal plans should be established onset of memory loss so those with dementia can be involved in decision making related to 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 necessary to plan for dementia of a loved one.

One of the hardest decisions made by you and your loved ones come from times of extreme distress, but it is vital that you and your family take certain precautions in the event of 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, it is vital everyone involved with someone who faces dementia 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 major fronts that must be covered for those coping with Alzheimer’s disease and other dementia issues is legal and financial planning.

Legal Planning

According to Alzheimer’s Association, the area of legal planning should cover health care, and long-term care. That may include other properties like finances and property. One of the most important decisions that needs to be made is who will be the designated caregiver of the sufferer of Alzheimer’s. When it may be time to create these legal documents, and the person already has dementia be sure to explain to them what they are signing, and to understand the power this legal document has. We insist you meet with an attorney who specializes in elderly law who can help determine what would work best for the loved one with dementia. 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 if needed.

Financial Planning

Financial assistance for health care coverage can come from Medicare, Medigap insurance, Medicaid, and other private health insurance institutions. It is important that all options be thoroughly search 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 who 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 concurrently. Please contact us at (610) 562-2000 or use our convenient online form and we will be happy to help you.