People in Michigan and the rest of the country are living longer. While for the most part, this is a good thing, deteriorating health, and especially dementia, can cause financial and other complications as people age. In the case of dementia, this can be particularly true where estate planning issues are concerned.
As dementia progresses, a person’s ability to reason and make responsible financial decisions may also deteriorate. Careful and ongoing estate planning can help to protect a loved one from scammers and even from him or herself. Family members may need to step in to prevent a family member from driving or from making rash financial decisions. Careful planning before the disease progresses too far can prevent a lot of stress and heartache.
A power of attorney document can be used to designate someone who can act in the person’s stead for financial matters, medical matters and other issues that may arise. A living will can be created to stipulate a person’s wishes regarding end of life decisions. If it clearly spells out a person’s desire to not have any life prolonging measures carried out if a disease has been determined to be terminal and the person is in a persistent vegetative state, this can make a difficult time for the family considerably easier to endure. The family will know they are carrying out the final wishes of a loved one.
A person in Michigan who has been diagnosed with dementia, or has a family member who has been diagnosed, may wish to consult with an estate planning attorney. Being diagnosed with dementia or having a family member diagnosed can be scary and overwhelming. Preparing early for what may come can ease the process for everyone.