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Alzheimer's Disease Makes Incapacity Planning a Must

There are different causes of incapacitation, but Alzheimer's disease alone is enough to make incapacity planning essential. This disease strikes approximately 45 percent of the oldest old (people who are at least 85 years of age). Learn more about incapacity planning in this presentation.

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Alzheimer's Disease Makes Incapacity Planning a Must

  1. 1. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF ALZHEIMER'S DISEASE MAKES INCAPACITY PLANNING A MUST
  2. 2. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF COMPREHENSIVE PLANNING
  3. 3. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF When the subject of estate planning comes to your mind, you probably think about financial matters.
  4. 4. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF Without question, you do have to facilitate the distribution of your financial resources.
  5. 5. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF However, there are other things to take into consideration if you want to be comprehensively prepared.
  6. 6. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF END-OF-LIFE ISSUES A well constructed estate plan will address end-of-life eventualities.
  7. 7. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF Though it is not a very pleasant subject to contemplate, a significant percentage of people become incapacitated at the end of their lives.
  8. 8. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF ALZHEIMER'S DISEASE There are different causes of incapacitation, but Alzheimer's disease alone is enough to make incapacity planning essential.
  9. 9. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF This disease strikes approximately 45 percent of the oldest old (people who are at least 85 years of age).
  10. 10. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF LONGEVITY STATISTICS
  11. 11. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF If you are thinking that you probably will not live into your mid- eighties, you should understand the facts.
  12. 12. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF According to the Social Security Administration, the life expectancy for a 67-year-old person is at least 85.
  13. 13. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF In fact, the Census Bureau tells us that the oldest segment of the population is growing faster than any other.
  14. 14. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF ADVANCE DIRECTIVES FOR HEALTH CARE To prepare for possible incapacity, you could execute documents called advance directives for health care.
  15. 15. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF One of these directives is a living will.
  16. 16. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF LIFE SUPPORT
  17. 17. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF Doctors can sometimes keep terminal patients alive through the utilization of life-support measures like feeding tubes, artificial hydration, and mechanical respiration.
  18. 18. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF With a living will, you state your preferences with regard to the utilization of these measures.
  19. 19. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF If you would rather let nature take its course, you can state this preference in your living will.
  20. 20. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF HEALTH CARE PROXY
  21. 21. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF Another advance directive that can be part of your plan is a health care proxy.
  22. 22. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF This document is alternately referred to as a durable power of attorney for health care.
  23. 23. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF In this directive, you name someone to make medical decisions on your behalf in the event of your incapacitation.
  24. 24. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF FINANCIAL DECISION MAKING
  25. 25. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF You should also name a financial representative when you create your incapacity plan.
  26. 26. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF This can be done through the inclusion of a durable financial power of attorney.
  27. 27. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF NURSING HOME ASSET PROTECTION
  28. 28. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF Many people with Alzheimer's induced dementia ultimately reside in nursing homes.
  29. 29. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF These facilities are very expensive, and Medicare does not pay for long-term care.
  30. 30. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF Medicaid will pay for nursing home care.
  31. 31. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF There are steps that you can take to gain eligibility without losing a lot in the process.
  32. 32. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF OUR FIRM CAN HELP
  33. 33. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF If you would like to embed an incapacity plan within a broader, comprehensive estate plan, contact us to schedule a consultation.
  34. 34. ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF Or visit our website www.sinclairprosserlaw.com Nicole Livingston Jon J. Gasior Colleen SinclairProsser Victor A. Lembo

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