Alzheimer’s and Estate Planning

Alzheimer’s is one of the nation’s costliest diseases andthose impacted by this deadly disease should have candid conversations withfinancial professionals about the problems this affliction can bring to afamily’s finances, no matter how hard it may be to discuss.

Alzheimer’s signature mark of memory loss can impede one’sability to make smart financial decisions, meaning investors should lay outhealth care and financial plans well before Alzheimer’s takes its toll.  Besides a will, living will, and durablepowers of attorney, financial experts should also stress insurance options likelong-term-care insurance, annuities, and life insurance containing riders thatwould provide a benefit if chronic care were needed.

While many financial advisers recommend close family membersbe appointed as a power of attorney, third-parties should also be consideredbecause emotional attachments can make end-of-life decisions more difficult.  

See MaggieOverfelt, Create Financial and LegalPlans to Manage Alzheimer’s, CNBC, Oct. 7, 2013.

Special thanks to David S. Luber (FloridaProbate Attorney) for bringing this article to my attention.