Alzheimer’s disease causes dementia, and dementia can cause victims to lose their capacity to make sound decisions.
People are living longer than ever, with the 10 year age group comprised of people between 85 and 94 years old growing faster than any other from the year 2000 to 2010 according to the United States Census Bureau.
Once you reach the age of 85 Alzheimer’s becomes a very real threat with upwards of 45% of the “oldest old” suffering from the disease according to the Alzheimer’s Association. The Center for Medicare and Medicaid Services reports that 70% of those 60 or older will require long term care before they die, whether from dementia, mental or physical impairment.
It should be noted that Alzheimer’s is not the only cause of dementia, and dementia is not the only cause of incapacity.
When you look at the facts you see that incapacity planning is a must. If you do not execute durable powers of attorney naming decision-makers of your own choosing to act in your behalf, the state will decide who handles your affairs.
In addition to empowering representatives with whom you feel comfortable, it is also a good idea to ask yourself how you will pay for nursing home care if this becomes necessary at some point in time. Medicare doesn’t pay for an extended stay in a nursing home, and long-term care is extraordinarily expensive.
Many seniors lean toward obtaining Medicaid eligibility in anticipation of requiring nursing home care. These rules are extremely complex and difficult to navigate.
When you consider all of this you can see why it is important to discuss your future with an elder law attorney. Our firm is passionate about helping people prepare for the eventualities of aging and we invite you to contact us for a free consultation.
For additional information, please join us for an upcoming FREE seminar.
Since founding Parman & Easterday in 1985, Larry has led over 1,000 free, community-service education programs and helped more than 10,000 Oklahoma families go from putting off their estate plan to getting it done. His goal for every client is the same: to become the person their family calls "the one who took care of everything."
Larry is the author of three books: The Straight Shooter's Guide to Estate Planning; Estate Planning Basics; and Guiding Those Left Behind in Oklahoma. He served as Oklahoma's Secretary of State and Secretary of Commerce, and his firm is the only member of the American Academy of Estate Planning Attorneys in the state.
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