Realizing that a loved one has developed Alzheimer’s often sends shockwaves throughout the family. There are many unique issues that need to be addressed, from daily care to whether or not the condition will progress quickly. An often-overlooked aspect is how to handle estate planning documents when your loved one still has some legal capacity and has expressed input on how they want their future care or finances handled.
A diagnosis of Alzheimer’s is a serious event within your family. In the early stages after diagnosis, you might not have any problems putting safeguards in place to protect your finances or to sign legal documents.
This is especially true if you have an elderly loved one who is in the early stages of Alzheimer’s. However, the degree of competency required to sign legal documents can vary based on the circumstances and the documents involved. A low-level of competency known as testamentary capacity, for example, is required to sign a will, but signing a power of attorney, a revocable trust or a contract might require a higher level of competency.
This, of course, presents challenges for adult children who are assisting elderly parents when that parent has been diagnosed with Alzheimer’s. Even if you anticipate that your loved one might have the capacity to sign a will next year, other estate planning documents might not be viewed as legally valid.
Consider scheduling a consultation today to put in place all of the important estate planning documents that enable a person who has been diagnosed with Alzheimer’s to have their wishes represented on paper now while they are still classified as legally able to understand and sign those documents.
At our Massachusetts elder law planning office, we’ll help you and your family members think through what you need to know to move things forward.
