Planning for Alzheimer’s Patients

According to the Alzheimer’s Association, in 2014 Americans will spend more than $214 billion to care for those affected by Alzheimer’s disease.  This number is expected to drastically increase in the coming years. 

Establishing a legal plan is critical for Alzheimer’s patients.  The sooner the planning begins, the more likely it is that the person with dementia will be able to participate in decision-making.  Every adult should have basic estate planning documents that include a financial power of attorney, advance health care directive, and last will and testament.   

Families confronting Alzheimer’s disease should also consider how they will cover long-term care costs.  At an average cost of more than $7,500 per month, some families are unable to cover this expense on their own.  Medicare may be available to cover nursing home costs, provided certain financial requirements are met.  Also, veterans and their spouses may be eligible for aid through the Department of Veterans Affairs. 

A good resource to consult on these matters is the Alzheimer’s Association free monthly “Legal and Financial Planning for Alzheimer’s Dementia” class.  This class gives you the tools to ensure you are legally and financially protected in the wake of this debilitating disease. 

See Patrick J. Haase, Legal, Financial Planning for Alzheimer’s Patients, UT San Diego, Oct. 23, 2014.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.