No one plans on Alzheimer’s, however a person diagnosed with Alzheimer’s should put some planning in place, while they still can, and in the form of legal documents. There are a number of legal decisions someone diagnosed with Alzheimer’s can and should execute, and as discussed in Can Someone Diagnosed With Alzheimer’s Still Execute Legal Documents, should be done when their competency level allows them to understand the basic things that relate to those legal documents.
In this Elder Law Minute, Wes Coulson, Southern Illinois Elder Law attorney, discusses another topic covered in The Alzheimer’s Guide: Practical Advice for Families, Caregivers and Professionals and gives a quick run-through of the essential legal documents a person diagnosed with Alzheimer’s should have in place.
Essential Legal Documents Anyone With Alzheimer’s Needs to Have in Place
Hi, I’m Wes Coulson and this is your Elder Law Minute. This is another in our series of videos on planning for people who have Alzheimer’s. Again this is another of things that’s covered in our Alzheimer’s Guide and I invite you to contact us to get your copy.
Today, I want to give you a quick run-through of legal documents that I believe someone with Alzheimer’s should have in place.
Let’s start with a Power of Attorney for Property. Property means financial matters, so as the disease progresses you need somebody who can take care of those things for you.
The next, similarly, is a Power of Attorney for Healthcare, so that somebody can make those healthcare decisions for you at the point where you are no longer able to do so. In both cases, that’ll be done pursuant to instructions and directions that you give, so that’s giving you a chance to maintain control.
You want to have a Will, or if you have more assets, a Will and a Living Trust in place. You want to have control over what happens to your estate when you die and you need to make sure you make those intentions clear while you still have the capacity to do that.
The last document is what we call an Asset Preservation Trust and, basically, that is a safe, if you will, into which you are going to move assets to protect them from long-term care costs. If you have a Will and Living Trust in place with the intention of leaving an inheritance for your family, the Asset Preservation Trust is going to make sure that you still have an inheritance left for them before you die. Thanks.
For more information on Alzheimer’s Guide Topics, visit these articles:
- Can Someone Diagnosed With Alzheimer’s Still Execute Legal Documents?
- Alzheimer’s and Powers of Attorney for Property: Why the document’s specific language matters so much.
- Alzheimer’s and the Five-Year Look-Back Period: The time to plan is NOW!
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Coulson Elder Law is dedicated to providing families in the St. Louis area with their Elder Law needs. Our practice areas include Asset Preservation Planning, Veterans Benefits, Medicaid Eligibility, Alzheimer’s Planning, Special Needs Planning, Estate Planning and more. We understand the financial challenges you may face as you and your loved ones grow older. At Coulson Elder Law, our clients’ well-being is our number one priority. For immediate help, call (877)995-6876 or Contact Us and we will get in touch as soon as possible.