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3 ways to handle estate planning for a loved one with dementia

On Behalf of | Oct 4, 2024 | Wills And Estate Planning

With so many different facets that come with estate planning, it is not always easy to approach the subject with an elderly loved one; however, the situation may become even more complicated when he or she receives a dementia or Alzheimer’s diagnosis.

The National Institute On Aging notes that these diseases cause an affected person to lose the capacity for rational decision-making, which may have a serious impact on the ability to create an estate plan, but loved ones can assist in several different ways to ensure an estate plan meets all of his or her wishes.

1. Choose a durable medical power of attorney first

When it comes to estate planning for dementia patients, choosing a durable medical power of attorney early on can avoid problems and arguments among family later. Choosing this individual, or proxy, makes medical decisions on behalf of the elderly person when he or she can no longer do so. Almost anyone can take on this role as long as they understand and can accept the responsibility.

2. Establish trust procedures

Creating and funding trusts as part of estate planning can ensure that any trust money remains well-guarded by a responsible trustee. Choose this individual carefully and ensure that he or she understands all the trustee duties required before taking on this responsibility.

3. Choosing end-of-life care

Helping a loved one with Alzheimer’s create an estate plan often includes a living will. This document outlines the type of care the person wants if they become permanently unconscious. This may include a do not resuscitate order if the individual wants to pass without medical intervention.

Those assisting someone who has a long-term illness with estate planning may also want to speak with that loved one’s doctors to ensure medical care proxy decisions happen smoothly.