A well constructed, comprehensive estate plan should take all the eventualities of aging into consideration. Unfortunately, one of these is the possibility of becoming incapacitated at some point in time.
There are a number of different ways that an individual can become incapacitated as we all know, but there is one culprit that is extremely attention-getting when you look at the statistics.
Alzheimer’s disease strikes at a surprisingly high rate. One of the best resources online for information about Alzheimer’s disease is the Alzheimer’s Association website. These folks are doing a lot of great work to encourage research, spread awareness, and offer solutions.
One of the facts that you’ll find on the website is that there are over 5 million people suffering from Alzheimer’s disease in the United States. As the population continues to age rapidly higher numbers of sufferers are expected.
One out of every eight seniors has been victimized by this disease. This ratio increases with age, and these days more and more people are living into their mid-to-late 80s and beyond.
Looking into long-term care solutions is part of the equation when you are looking forward toward the future given the ubiquity of Alzheimer’s disease. Incapacity planning is important as well.
This entails the execution of durable powers of attorney to name decision-makers who would be able to act in your behalf in the event of your incapacitation. If you’re using a revocable living trust to arrange for the future distribution of your assets you can include a disability trustee who would handle your financial affairs should you become incapacitated.
If you would like to discuss a comprehensive plan with an expert we invite you to give us a call at (908) 222-8803 to arrange for a consultation.