[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.amorusolaw.com\/blog\/alzheimers-dementia-and-other-brain-diseases-require-special-estate-planning-steps-greenwich-ct-new\/#BlogPosting","mainEntityOfPage":"https:\/\/www.amorusolaw.com\/blog\/alzheimers-dementia-and-other-brain-diseases-require-special-estate-planning-steps-greenwich-ct-new\/","headline":"Alzheimer\u2019s, Dementia and other Brain Diseases Require Special Estate Planning Steps","name":"Alzheimer\u2019s, Dementia and other Brain Diseases Require Special Estate Planning Steps","description":"\u201cCovid-19 or Coronavirus has created health worries and fear for everyone. For those with underlying health issues, which include multiple sclerosis, Parkinson\u2019s disease, Alzheimer\u2019s disease, or other brain diseases, those concerns are even more pronounced.\u201d There are certain steps that can be taken by individuals, loved ones and family members to make this challenging time […]","datePublished":"2020-06-11","dateModified":"2023-07-29","author":{"@type":"Person","@id":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/#Person","name":"Amoruso & Amoruso LLP","url":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/","identifier":5,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Amoruso & Amoruso LLP","logo":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","width":0,"height":0}},"image":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b0264e2e09194.jpg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b0264e2e09194.jpg","height":853,"width":1280},"url":"https:\/\/www.amorusolaw.com\/blog\/alzheimers-dementia-and-other-brain-diseases-require-special-estate-planning-steps-greenwich-ct-new\/","about":["Alzheimer's","Estate Planning","Incapacity","MS \/ Multiple Sclerosis","Parkinson's"],"wordCount":664,"keywords":["Alzheimer\u2019s","Estate Planning","Incapacity","MS","Multiple Sclerosis","Parkinson\u2019s"],"articleBody":"\u201cCovid-19 or Coronavirus has created health worries and fear for everyone. For those with underlying health issues, which include multiple sclerosis, Parkinson\u2019s disease, Alzheimer\u2019s disease, or other brain diseases, those concerns are even more pronounced.\u201dThere are certain steps that can be taken by individuals, loved ones and family members to make this challenging time safer and smarter, advises an article “Financial And Estate Planning Steps To Take Now: Special Considerations For Those With Brain Disease” from Forbes.Anyone living with a neurologic condition needs to be sure their planning reflects not only their condition but their personal experience of the condition. The variability of each person\u2019s experience of a brain disease, from symptoms and severity to the progression rate and future prognosis to the possibility of any recovery, affects how they need to plan.For an Alzheimer\u2019s patient, in early stages there may be no problems in signing legal documents and putting legal safeguards in place to protect finances. Most people are not aware that the degree of competency to sign legal documents varies depending upon the complexity of the documents to be signed and the circumstances. A relatively low level of competency is required to sign a will. This is known as \u201ctestamentary capacity.\u201d A higher level of competency is required to sign something like a revocable trust, investment policy statement, etc. Therefore, a person who may be legally able to sign a will may not have the legal capacity to sign other documents. Alzheimer\u2019s patients need to get their entire estate plan in order as soon as a diagnosis is received. Safeguards are extremely important, including having an independent person, like a CPA or trusted family member, receive copies of all monthly bank and brokerage statements in case abilities decline faster than anticipated.Patients living with peripheral neuropathy may experience issues with balance, burning sensations, dizziness, hypersensitive skin and pain that make wearing socks or shoes impossible. If the condition becomes so severe that the person becomes homebound, they need to make changes: set up accounts, so bills can be paid online, have income streams set to automatic deposit and simplify and consolidate accounts. It is important to have a Power of Attorney (POA) that is effective immediately or a revocable living trust with a co-trustee. In this way, you do not have to leave home to conduct your business.Parkinson\u2019s disease may not be well understood by professional advisors. You\u2019ll need to explain that your facial expression\u2014Parkinsonian masked face\u2014does not mean that you are not responding to a conversation. They need to know that your handwriting may change, becoming small and cramped. This can result in a bank or other financial institution refusing to accept your signature on documents. Your attorney can prepare a document that confirms you are living with Parkinson\u2019s disease and that micrographia is one of your symptoms. The document should include three or four different signatures to reflect the variations. Have each signature witnessed and notarized.People living with MS (multiple sclerosis) face the possibility of an exacerbation that could leave them incapacitated at any time. A revocable trust to coordinate financial management with trusted individuals as co-trustees should be in place.For people with these and other brain illnesses, an emergency financial and legal road map needs to be prepared. It should include monthly recurring bills, non-recurring bills like life insurance, property taxes, etc. Contact information for key advisors, your estate planning attorney, CPA, financial advisor, banker, insurance agent, etc., needs to be shared. Your estate plan should be updated, especially if you haven\u2019t reviewed it in three or four years. If you don\u2019t have an estate plan in place, now is the time to have one created.Reference: Forbes (May 17, 2020) “Financial And Estate Planning Steps To Take Now: Special Considerations For Those With Brain Disease”For more information on elder law, retirement planning and estate planning, please visit my estate planning website."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Blog","item":"https:\/\/www.amorusolaw.com\/blog\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"Alzheimer\u2019s, Dementia and other Brain Diseases Require Special Estate Planning Steps","item":"https:\/\/www.amorusolaw.com\/blog\/alzheimers-dementia-and-other-brain-diseases-require-special-estate-planning-steps-greenwich-ct-new\/#breadcrumbitem"}]}]