When a loved one is diagnosed with Alzheimer’s, you may naturally be preoccupied with his or her immediate needs. It can be difficult to think about estate and financial planning during this emotional time. Why start now? For one, it’s important that you discuss your loved one’s preferences while he or she is still able to communicate them effectively—while he or she still has the “legal capacity” to decide. It also prevents you from having the courts make decisions on behalf of your family, which can happen when you don’t assign power of attorney or create any estate planning documents. The best way to honor your loved one’s wishes is to get started immediately.
Step 1: Have “The Talk”
Before you take any of the following legal steps, you’ll want to have a respectful discussion with your loved one about his or her future plans. Your talk can cover topics like finance, health care, and end-of-life care. Where does your loved one want to spend the rest of his or her life? Do they want specific property to stay in the family? How can you honor your loved one’s religion or culture in the burial plans? This can be a difficult subject to broach, especially when the talk comes hot on the heels of an Alzheimer’s diagnosis, but you should have it while your loved one still has the capacity to share his or her needs and wishes.
Step 2: Plan for Future Care
Your loved one may be living alone right now, but this may have to change before he or she loses the capacity for self-care and household duties. Who will cook, clean, and pay the bills for your loved one while making sure he or she is safe? Some people prefer to take on the role of caregiver themselves, but this is not a practical solution for many families. You may have to plan for a live-in aide, an assisted living facility, or a nursing home. If your loved one has early-stage Alzheimer’s and wants to continue living independently for now, your plan may change down the road, but the earlier you start the better. Encourage your loved one to appoint power of attorney for health care to give a trusted person the ability to make healthcare decisions on his or her behalf. That person will be able to uphold your loved one’s preferences with respect to care facilities, medical treatments, doctors, and more.
Step 3: Financial Planning
If your loved one loses the capacity to manage his or her finances, someone else will have to step in. A durable power of attorney for finances lets your loved one decide who will control his or her financial assets in the future. That person will have the authority to pay bills, manage retirement accounts, and sell assets on behalf of your loved one, among other tasks. Your loved one should also create a will to decide who will inherit what; and designate beneficiaries for life insurance or bank accounts. An attorney can help you determine which estate planning documents are necessary for your loved one.
Step 4: End-of-Life Decisions
Your loved one can specify his or her end-of-life preferences in an advance directive. These directives may kick in when your loved one is no longer able to communicate with others in an effective or coherent manner, when he or she is otherwise incapacitated, or immediately if he or she chooses. The two main options include a living will, which provides written instructions about life-prolonging medical treatments like feeding tubes and respirators. Your loved one can also give power of attorney for health care to a trusted individual who will make certain decisions on his or her behalf. These directives can address preferences about surgery, do not resuscitate (DNR) orders, and more.
You should speak with an attorney for reliable legal counsel. Denise Stewart, Attorney with the Estate & Long Term Care Group will take care of your estate planning needs in an honest, respectful manner. Give us a call to discuss your plans and make sure your loved ones have the best possible future ahead.
Written by ELTC Law Group
