Alzheimer's and Estate Planning

One in eight people will get Alzheimer's after they turn 65 years old.  Deborah L. Jacobs suggests that regardless of a person's current age or health, they must anticipate that they might become physically or mentally unable to manage their finances or make medical choices.  Ms. Jacobs advises that a person should sign a healthcare proxy (someone who will make medical decision when a person no longer can), living will (a written statement that expresses a person's wishes), and a power of attorney (a document that authorizes a trusted family member, friend or advisor to act as a person's agent).

See Deborah L. Jacobs, "Sign A Healthcare Proxy, Living Will And Power Of Attorney," Forbes.com, Sept. 26, 2011.

Posted by William Alan Nelson II, Associate Editor, Wealth Strategies Journal