Dementia is a debilitating, incurable health condition that affects so many families across the United States. Though there may be no history of this condition in your family, and you may consider yourself relatively healthy, you cannot assume you are immune to it. So, for the sake of your legacy and the betterment of your beneficiaries, it may be in your best interest to develop your estate plan sooner rather than later. That is, in the off chance that you do receive this terrible diagnosis, and it is too late for you to initiate your plan. Follow along to find out what estate planning documents you need to establish before developing dementia and how one of the proficient Putnam County powers of attorney lawyers at the Law Office of Andres D. GIl, PLLC can work to ensure everything is taken care of.
Why is it important to establish my estate plan before developing dementia?
In developing dementia, your brain functions may seriously weaken. That is, you may find yourself struggling to execute daily tasks that you had no problem with previously. This may entail struggles with short-term memory, carrying fluid conversations, concentrating on a given task, and more.
Further, being given an official dementia diagnosis by your treating healthcare provider may give the New York surrogate’s court reason to believe that you are mentally incapacitated. Meaning, any estate planning documents you signed after your diagnosis may be ruled inadmissible. Your estate may subsequently enter intestate proceedings. Given this possibly unfortunate sequence of events, it is important to establish your estate planning documents before developing dementia.
What are important estate planning documents to establish before developing dementia?
Certain estate planning documents are especially crucial if you, sadly, develop dementia later on in life. They read as follows:
- A financial power of attorney: this may allow you to appoint a trusted individual (i.e., an agent) to handle your financial affairs should you ever become mentally incapacitated (i.e., develop dementia) and be unable to do so yourself.
- A healthcare power of attorney: this may allow you to appoint an agent to make medical decisions on your behalf should you ever develop dementia and be unable to do so yourself.
- A living will: this may allow you to give instructions on how your treating healthcare providers and loved ones should handle your end-of-life care should you ever develop dementia and be unable to direct it yourself.
It is worth mentioning that you should opt for springing financial and healthcare powers of attorney. This is so they do not go into effect once you sign the bottom of the documents, but rather if or when you receive an official dementia diagnosis.
If unsure of your next move, you should resort to a talented Putnam County estate planning attorney. Someone at the Law Office of Andres D. Gil, PLLC will know the legal option that works in your best interest. So call our firm today.