Prepare As Soon As Possible After Diagnosis Of Alzheimer's Disease | Law Firm Newswire

Prepare As Soon As Possible After Diagnosis Of Alzheimer’s Disease

White Plains, NY (Law Firm Newswire) August 23, 2013 - Though a diagnosis of Alzheimer's can distress a patient and their loved ones, elder care advocates indicate it is critical they immediately begin advance planning for financial arrangements and health care.

New York Elder Law and Estate Planning Attorney Bernard Krooks

Alzheimer's is a progressive disease of cognitive decline, but it can last for many years. Putting plans into place early can help make a significant difference in how that time can be spent.

If someone suspects that there are memory issues or other cognitive concerns, they should see a neurologist, geriatric assessment clinic or memory clinic for testing. If there is a formal diagnosis of Alzheimer's disease, the results will give a baseline, which may help when charting out a plan for what to do next.

A person with a diagnosis of Alzheimer's disease should then work with an elder law or estate planning attorney to ensure that their legal planning is thorough. Documents to be addressed include health care documents, such as an advance directive which explicitly instructs health care choices (sometimes called a "living will"), and a durable power of attorney for health care decisions. The financial documents to be developed include a will, a durable power of attorney for finances, and possibly a living trust.

An elder care lawyer or estate lawyer can also assist in mapping out the financial options available for care. Some people find that spending down their assets to qualify for Medicaid is the option for them, but those assets need to be released at least five years before applying for Medicaid.

Many states now have some level of a partnership-eligible, long-term-care policy available to help individuals protect some of their assets while using Medicaid. The purchase of a partnership policy, which covers as much as $250,000 of care, may allow the patient to exhaust benefits and qualify for Medicaid, while still holding on to assets up to $250,000.,

Other financial concerns for people with an Alzheimer's diagnosis include checking with their bank's policy on power of attorney and whether they need their own forms. Some banks require that they have their own power of attorney forms on file, which may be difficult to procure later on.

New York Contact:
Maria M. Brill
Littman Krooks LLP
(914) 684-2100
[email protected]

New York City Office
655 Third Avenue, 20th Floor
New York, New York 10017
(212) 490-2020 Phone

Westchester Office
399 Knollwood Road
White Plains, New York 10603
(914) 684-2100 Phone

Dutchess Office
300 Westage Business Center Drive, Suite 400
Fishkill, NY 12524
(845) 896-1106 Phone

  • The Sandwich Generation and the Burden of Too Much Stuff
    Middle-aged people find themselves taking care of both their parents and their children, along with personal commitments like career and home. It seems like there is no end to the work that must be done and the roles that must be filled. Frequently, members of the sandwich generation end up as the caretaker of everyone […]
  • Seniors and Driving: When Is It Time To Give Up The Car Keys?
    Knowing when to stop driving as a senior is rarely easy. For many, driving represents independence, mobility and socialization. Giving it up is difficult to imagine. For some, the logistics of no longer being able to drive seem impossible to manage. Data shows that older drivers do pose a real risk to themselves and others […]
  • What Happens to the Family House?
    As if the death of parents is not hard enough, deciding what to do with their home often adds extra layers of complication. In most cases there are three options to consider. You can sell the house, you can live in the house yourself or you can make the house an investment property and rent […]

Tags: , , , , ,



Get headlines from Law Firm Newswire sent right to your inbox.

* indicates required