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Planning For Alzheimer’s Is Easier Before Diagnosed

Planning For Alzheimer’s Is Easier Before Diagnosed

Planning For Alzheimer’s Is Easier Before Diagnosed

The cost of Alzheimer’s should be taken into consideration in an estate plan, according to Market Watch in “What to know about Alzheimer’s and retirement planning,” because receiving care for Alzheimer’s is more expensive than getting care for other common end of life conditions.

In reality, however, it is extremely important that estate planning does not stop at determining the distribution of your assets because a big part of estate planning is also making sure that your needs will be met at the end of your life. Ideally, this is done so you will still have an inheritance left for your heirs. As there is a good possibility that at the very end of your life you will be sick and in need of care, estate planning is thus also about planning for that sickness.

The cost of Alzheimer’s should be taken into consideration in an estate plan as Market Watch discusses in “What to know about Alzheimer’s and retirement planning,” because receiving care for Alzheimer’s is more expensive than getting care for other common end of life conditions. Therefore, the cost of Alzheimer’s is a good benchmark for planning.

Estate planning for Alzheimer’s is not just about money. It is also about making sure you have already planned ahead and legally appointed a capable person or persons who can look after your affairs. That means getting a general durable power of attorney and a healthcare power of attorney.

If you are anything like me, the thought of losing control of yourself and your assets is one you struggle with. I will tell you this, it is better to plan ahead if you want any control over your life, because if you don’t you run the risk of getting care forced upon you by a government agency. It is better to choose the person (or people) who are going to look after you when you no longer can do the job.

Getting old is one thing, losing your mind is another. An estate planning attorney can guide you through the process.

Reference: Market Watch (July 7, 2016) “What to know about Alzheimer’s and retirement planning

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