Dec 07, 2014
By Rick Law, elder lawyer and estate planner at Law Elder Law, LLP in Aurora, IL
It is difficult to determine when memory loss is the first step of Alzheimer’s or just normal aging. Especially for a family member who is not a medical professional and simply doesn’t have any experience dealing with dementia.
As people age, they forget things.
However, forgetting what they had for lunch last Saturday is different from forgetting that they do not have unlimited financial assets.
Lawyers often rely on the client’s family members when dealing with a client with Alzheimer’s disease. Which relatives does the client believe are honest and reliable? Which family member may be able to safeguard family finances and provide ongoing care and attention to the situation?
As with any family, an atmosphere of open communication can go a long way toward preventing suspicion and family fights, and lead to a more positive outcome for the client in the long run.
The time to work on planning is while the client with Alzheimer’s still has sufficient capacity to make a will, trust, power of attorney for health care, power of attorney for property, and any other estate protection plans.
A qualified Elder Law and estate planning attorney may be able to make sure that the healthy spouse is not excessively impoverished by long-term care expenses.
If your loved one has memory problems and you’re afraid of the consequences that may bring, give our office a call today at 800-310-3100 or 630-585-5200. Your first consultation is absolutely free. We’ll let you know what steps you need to take, right now, to protect yourself and your family. Call now.
Rick L. Law, Attorney, Estate Planner for Retirees.
Rick was named the #1 Illinois elder law estate planning attorney for 3 years in a row by Leading Lawyer Magazine. He has been quoted in the Wall Street Journal, AARP Magazine, TheStreet.com, and numerous newspapers and articles. Rick is the lead attorney for Law Elder Law, LLP, focusing in Estate Planning, Guardianship, and Nursing Home Solutions. His goal is to give retirees an informed edge when it comes to dealing with an uncertain future. Get flexible retirement strategies that work during good times and bad, plus information on how you can save your home and assets from being used to pay for long term care.
My wife and I had our first child three years ago. That’s when we decided to set up a trust, should anything happen to either of us. We reached out to Zach Hesselbaum to help us out. He was very thorough and professional throughout the whole process. Zach went above and beyond to make sure that we understood every detail of setting it up and he did an excellent job. We recently had our second child a few months ago. With the new baby, he helped us make the necessary revisions to the trust. Zach made this process great for us! I would definitely recommend using him for any of your estate planning needs!
Tom G., Naperville, IL