As family members and caregivers notice signs of cognitive decline in loved ones, it is essential to take proactive steps to safeguard assets. Seeking guidance from an elder law attorney to navigate complex planning issues as well as guard against financial exploitation reduces vulnerability to fraud.
It’s a conversation fraught with potential tension, in which people examine around concerns about independence, money, responsibility and mortality.
Several high-profile celebrities have recently sought a conservatorship for a family member including Jay Leno, his wife Mavis, and Cher for her son, Elijah Blue Allman, claiming they cannot adequately manage their affairs or make proper medical decisions.
An estate plan with wealth preservation, long-term care and medical directives strategies provides clarity and guidance to loved ones on aging parents’ wishes, while retaining control for aging parents over financial and health-related matters.
Many Generation Xers are in a unique position, “sandwiched” between raising their children and caring for aging parents. A proactive estate plan can help alleviate financial burdens and smooth aging parents’ path into retirement for both generations.
Elder law attorneys help seniors protect their life savings for future generations and plan for long-term care by empowering individuals to navigate the journey of aging with dignity, security, and peace of mind.
The fact that many baby boomers lack the robust pension and Social Security benefits enjoyed by their predecessors underscores the importance of working with an elder law attorney to plan for financing long-term care and guarding existing assets as they age.
We explore the critical importance of addressing cognitive decline in estate planning to safeguard assets and ensure intended inheritance.
I have been diagnosed with brain damage and dementia. Word to the younger folks: I woke up last year and suddenly could not spell or write legibly. No warning. No symptoms.
Once your cognitive abilities begin to decline (which can start in your early 60s), your accounts could be at risk. Here’s how to protect them.