Why An Estate Plan Is Ideal When You Have Alzheimer's Disease

Suffering from memory loss can put you in a bad situation later on in your life, especially when it is from you having a minor case of Alzheimer's disease. You must understand that the disease will get worse as time passes by, so it is in your best interest to speak with a lawyer about an estate plan. This article will give you some of the reasons why having an estate plan is a great way to protect your needs if you get to the place where you are unable to make decisions concerning your life.

You Can Set a Legal Plan For Your Medical Needs

If there are certain people that you don't trust with your medical needs in case you become incompetent, a lawyer can appoint a medical power of attorney on your behalf. Basically, drafting up a medical power of attorney in your estate plan gives you legal authority to decide in advance who will be responsible for making your medical decisions if you can't.  

The person appointed over your medical care can make decisions for you as Alzheimer's disease progresses up until death. He or she can choose your medical provider and make the decision as to whether you should be left on life support or not if it gets to that point. You can have the peace of mind that you will be well taken care of if you appoint someone over your medical needs and avoid ending up in the care of someone that you don't trust.

Your Finances Will Be in Good Hands

You don't want to become incompetent from Alzheimer's disease and have no idea who is in control of your bank account. It is a good idea to make sure that your money is being used towards your own personal needs.

Appointing a financial power of attorney over your finances in advance will give you the opportunity to choose someone who will always keep your needs at heart and not spend your money for his or her own personal needs. The appointed person will not only manage the money that goes in and out of your bank account, but he or she will make sure that your bills are paid, including:

  • Rent
  • Utilities
  • Medical bills
  • Home maintenance

The financial appointee over your finances will also decide how much of your money is used towards any leisure activities that you are involved in. Speak to a lawyer like one from Cormac McEnery about an estate plan so you will be prepared when your memory loss progresses.