Keeping track of a loved oneâ€™sstate of health can be complicated, especially when dementia is the culprit.Dementia is a slow and barely perceptible decline, but knowing the signs canhelp head off problems ahead, particularly financial decisions that can gowrong if your loved one is in a state of decline and not aware there is aproblem.
Unfortunately, decline is hardto understand. So, when is an individual in decline and when are financialdecisions still safe?
A recent Forbes article titled â€œAging Parents, Dementia And Financial Decisions:What Is Safe?â€ chronicles the story of one family and family businessagainst the backdrop of dementia and decline.
In truth, there is no real testbecause dementia and financial choices simply do not avail themselves toconclusive testing. That said, it is essential that family members be steadilyinvolved, understanding, and concerned. â€œMaraâ€ in the original article is aperfect example.
Because Mara was involved,understanding and concerned, she was able to spot the â€œsignsâ€ of dementiabefore her mother lost the family business and estate due to poor decisions,increasing confusion and perhaps even those willing to take advantage of thesituation. In the end, Mara not only had to spot the signs, she also had to getthe help and coordination of a doctor to step in and assist.
Much stress and strain resulting from dementia lateron can be preemptively eliminated by proper legal planning right now. Be sureto consult with qualified legal counsel to ensure that you, your loved ones andyour assets are protected.
For more information on this and otherestate planning subjects, contact IdahoEstate Planning and schedule aconsultation. Remember,good planning is no accident.