You may be seeing signs of aging and physical or cognitive decline in your loved ones, or you may be curious about the best way to protect yourself in the event this unexpectedly happens to you. Dementia is one of the leading causes of disability for elderly people.
Hiring an Elder Law Attorney to Help
Getting organized with your estate and financial planning begins with understanding what’s already been done and what needs to be completed. The diminishing capacity associated with aging usually begins somewhere in mid to late adulthood.
Creating a financial durable power of attorney is a great way to ensure that there is another trusted person appointed to handle concerns relating to investing and any other money issues.
Matching Estate Plans with Estate Needs
Do an inventory on existing plans in place, such as insurance policies for disability or life insurance. This can help tell you some of your options and initial plans you have taken to help protect your loved ones if something happens to you. You also need to think about whether or not you have designated beneficiaries on insurance policies, investment accounts and bank accounts.
Health care proxies or living wills are other examples of things you can put in place to help ensure that you or a loved one has taken care of the necessary action steps. Talk to a qualified lawyer today to learn more about your legal options. Meet with an attorney in our Massachusetts estate planning law office to walk through the possibility of future decline and to learn what you can do to protect yourself.
