The Elder and Disability Law Firm, APC
Alzheimer's-Induced Dementia Common Among Oldest Old
Estate planning is clearly going to involve arranging for the distribution of financial assets to your heirs after you pass away. However, you would also do well to make preparations for the latter stages of your life when certain eventualities may present themselves. With this in mind it is important to understand just how common Alzheimer's-induced dementia has become in America today.
Alzheimer's disease strikes somewhere in the vicinity of one out of every eight individuals who reach the age of 65. As you would expect, the likelihood of contracting Alzheimer's increases as you get older. It is estimated that about 40% of people who are among the "oldest old" (those 85 years old and up) are victims of Alzheimer's-induced dementia.
If you are suffering from dementia you may not be able to make sounds personal, financial, and medical decisions. Should interested parties recognize a loss of faculties a guardianship proceeding could be convened and it is possible that you could become a ward of the state.
This can be avoided by taking the proper steps in advance to protect yourself should this contingency arise. If you use a revocable living trust to transfer your assets you could add a disability trustee who would handle things in the event of your incapacity in accordance with your wishes.
Durable powers of attorney are also utilized as a way to appoint people of your own choosing to make decisions in your behalf should you become unable to make them for yourself rather than allowing the court to control your fate.
If you can see why it is important to take steps to protect yourself, take action right now to arrange for a consultation with a licensed and experienced San Bernardino estate planning lawyer.