Estate planning is never an easy task, but it can be more complicated when you are helping a loved one with Alzheimer’s complete the task. There are unique considerations that you should keep in mind when estate planning, as the condition can have many legal and financial ramifications. As the disease progresses, it can become more difficult to complete the planning process.
What Estate Planning Documents Do You Need?
You should always start the planning process with an experienced lawyer and work together to iron out the various legal, financial and healthcare planning documents that you will need. Some of the most critical documents that loved ones who are diagnosed with Alzheimer’s need include:
- Living Will: This contains the wishes of the adult regarding healthcare treatment near the end of life or if they become unable to make decisions themselves.
- Living Trust: A living trust gives a trustee instructions regarding the senior’s estate and establishes their right to hold the property and funds if necessary. The trustee can follow all of the instructions given once the adult affected by Alzheimer’s can no longer make their own sound decisions.
- Durable Power of Attorney for Healthcare: This document designates a proxy who can make healthcare decisions on their behalf if the adult with Alzheimer’s cannot do so any longer.
- Will: A will details the ways that a person’s assets and estate will be divided up upon their passing. In a will, you can also specify things like gifts, trusts that will manage the estate, burial arrangements and arrangements for the care of any minor children that are involved.
- Durable Power of Attorney for Finances: Just like with healthcare, the financial POA allows someone else to make financial decisions on behalf of the incapacitated individual.
When your loved one is diagnosed with Alzheimer’s, it is critical that you move as quickly as possible to legally document their wishes and secure the estate. Elder law attorneys, like Mobley and Brown, LLP, can assist you with each step of the estate planning process and ensure that your loved one is able to age as healthily and peacefully as possible. Ironing out legal and financial matters now can eliminate concerns in the future.
Contact Mobley & Brown, LLP for Help with Estate Planning in Maryland
If you are searching for the right attorney in Maryland and unsure where to turn, contact Mobley and Brown, LLP today. Our experienced legal team will work with you to meet your needs. Call us now at (410) 385-0398.
