When a loved one is diagnosed with Alzheimer’s or another form of dementia, it is essential to take immediate steps to ensure their care and financial future are properly planned for. These conditions bring unique challenges that require specialized legal planning to protect your loved one and your family. In Florida, having a solid estate plan in place ensures that your loved one’s needs are met, and their future is secure.
One of the first steps is to create a durable power of attorney, which allows someone you trust to make financial decisions on behalf of your loved one when they are no longer able to. This includes paying bills, managing investments, and making important financial decisions. This document is especially important when dealing with long-term care needs.
A health care directive, or living will, is also an essential document to consider in Alzheimer’s and dementia care. This document ensures your loved one’s medical wishes are followed if they are no longer able to communicate. It also designates someone to make medical decisions on their behalf, ensuring their care is in line with their preferences.
Another critical tool is a special needs trust. As Alzheimer’s progresses, it may be necessary to access government benefits, such as Medicaid, to cover the costs of care. A special needs trust helps protect eligibility for these benefits while ensuring that your loved one can still receive additional support.
Finally, it is important to discuss long-term care options well in advance. Whether it is in-home care, assisted living, or nursing homes, understanding the best option for your loved one’s future ensures they will receive the care they need as their condition progresses.
At Perlin Estate Planning & Probate, we understand how overwhelming it can be to plan for a loved one with Alzheimer’s or dementia. We are here to guide you through every step of the process to ensure your loved one’s future is protected in Florida.
We know this article may raise more questions than it answers. At Perlin Estate Planning & Probate, our credentials enable us to provide a multi-disciplinary approach to our legal services. By building relationships with our clients, we can understand each client’s needs and desires, and we support those goals through thoughtful, comprehensive planning techniques. We encourage you to contact us and schedule a meeting.