Taking Control of the Unexpected: Life-Altering Events Can Lead to Catastrophic Long-Term Care Costs and a Need for Estate Planning
Life altering events like an Alzheimer’s diagnosis, or a debilitating stroke can lead to catastrophic long-term care costs. One in three seniors die with Alzheimer’s or another dementia and currently over 55 million people worldwide have Alzheimer’s. A person can live for many years with this disease and there are different care needs they will have during their Alzheimer’s illness. Knowing your options and planning for the unexpected loss in functional and cognitive capacity is the best way to protect yourself. The options for paying for long-term care are limited and we will discuss ways to plan to protect yourself.
Life altering events should be a motivator for adults to update their estate planning documents. Time often gets in the way of good intentions and critical revisions are never made. We will discuss The Five D’s: Death, Divorce, Diagnosis, Dependents and Displacement and their impact on your estate planning and surrogate decision making.
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