Whether you were recently diagnosed with Alzheimer’s, you have struggled with this disease for many years or a loved one is battling this disease, it is imperative to understand the different ways in which Alzheimer’s affects the estate planning process. If you are going to create a will or trust or your close family member needs to set up an estate plan, it is essential to take a careful approach if you are struggling due to Alzheimer’s.
Unfortunately, some people fail to safeguard their assets due to Alzheimer’s or they fall victim to undue influence because they are unable to make proper decisions. This is especially concerning for those who have significant assets at stake.
How can Alzheimer’s affect your estate plan?
If you are battling Alzheimer’s, you need to understand how this disease could affect your estate plan. According to the National Institutes of Health, Alzheimer’s disease can have a negative impact on those who set up an estate plan in various ways. For example, many people cannot think clearly and struggle with reviewing relevant laws and going over key documents related to their estate plan.
How can you manage your estate plan with Alzheimer’s?
Fortunately, many people who are dealing with Alzheimer’s disease are able to set up effective estate plans that ensure their assets are distributed appropriately after their death and minimize the impact of legal issues related to their estate for their loved ones. Make sure you set aside additional time to go over your estate and carefully address any areas of uncertainty. If possible, finding support from a family member is sometimes very helpful.