Kendall Maddox and Associates
If you or a loved one has recently been diagnosed with Alzheimer’s (or is exhibiting symptoms, such as memory loss), the most common response is to worry. You will worry about getting the right care, how you’re going to pay for high medical or nursing costs, if you are going to lose your assets, how you or your loved one is going to handle the everyday caregiving problems that arise, and much more.
However, there is information and help to ease your concerns and put you in the driver’s seat.
Legal and Financial Concerns
Alzheimer’s disease leads to a number of life adjustments, including the need to make a wide range of decisions that pose possible legal consequences. Once you’ve been diagnosed, the ability to manage your own affairs will decrease over time. Making adequate, informed decisions about personal, business, and health care will become more difficult. Fortunately, early legal planning (link to Medicaid Trust page) lets you choose a person to manage these tasks for you, according to your wishes, while at the same time helping you protect your assets from the high cost of long-term health care.
Find out what actions you need to take to ensure that these crucial legal steps are taken right away. Once you or your loved one with Alzheimer’s has lost LEGAL capacity to make decisions, it will be too late.
Caring for Your Family Member with Alzheimer’s
Caregiving for someone with Alzheimer’s is one of the most difficult jobs in the world. As your loved one’s condition deteriorates, you may be forced to make some tough choices about their life and independence, which obligates you to balance your convenience with possible legal consequences.
Concerns About Paying for and Getting the Best Care
The national average cost of nursing home care is $75,000 per year, or $6,250 a month. For Alzheimer’s patients and their families, this huge cost could result in an enormous financial burden. Fortunately, legal planning can help with these high expenses and protect your assets – if you plan ahead. Our office regularly works with families dealing with Alzheimer’s Disease and can help you create a plan without delay.
While there is still time, you can also plan ahead for an eventual stay in a nursing home by researching local options to ensure that you or your loved one will be placed in the best facility and get the best care possible.