The Elder and Disability Law Firm, APC
Do You Have Incapacitation Planning? WHO Estimates Dementia to Triple by 2050
Dementia is not an easy illness to manage. Family members are forced to care for and financially back their loved ones when they are no longer able to do so for themselves. In most cases, individuals do not have adequate estate planning for incapacitation, such as dementia, which means their families are left to foot the bill and make difficult medical decisions. According to the director-general of the World Health Organization (WHO), most families who care for dementia patients are on the brink of poverty due to the excessive costs associated with dementia care.
Dementia Numbers Expected to Triple
WHO estimates that dementia cases will triple by 2050, which will total to over 100 million patients throughout the world. Since dementia care is already a $604 billion a year industry, that means that families throughout the world will have to pick up a very heft tab just a few decades from now.
You can ensure your loved ones have adequate financial backing and health care information at their fingertips just by taking the time to perform incapacitation planning. Incapacitation planning will cover situations such as dementia and ensure that your short and long-term health concerns are met, but without driving your family and estate to the brink of poverty.