Are you legally and financially prepared to handle you – or your loved one’s – dementia or Alzheimer’s?
A dementia or Alzheimer’s diagnosis can be tough, but don’t let legal and financial difficulties make it harder than it already is. With the proper disability documents in place – and proper planning – your loved one can have the best possible quality of life after their diagnosis. Although there are some crisis-planning strategies we offer, it’s always best to plan ahead.
In this episode of The Chris Berry Show, I’ll talk about the three main disability documents every elder should have, the benefits of a castle trust, and when asset-based long-term insurance may be a good fit.
In this episode, you’ll learn...
- Chris’ positive focus for the week.
- About the National Alliance of Attorneys for Alzheimer’s planning.
- About the Alzheimer’s Association and how we’re involved.
- How to legally and financially plan for Alzheimer’s or dementia.
- The steps to take after a dementia or Alzheimer’s diagnosis.
- The benefit of having disability documents.
- Things you can do prior to a diagnosis to prepare.
- About my book “A Caregiver’s Legal Guide to Planning for a Loved One with Chronic Illness”.
- How to create your own rulebook instead of using the state’s rulebook.
- The importance of a financial power of attorney document.
- The importance of a medical power of attorney document.
- Why everyone needs a Personal Care Plan.
- How to ensure your loved one has the best quality of life possible after diagnosis.
- How to pay for the long-term care journey and how a castle trust can help.
- Forms of long-term care insurance including asset-based long-term insurance.
- Some crisis-planning strategies.
Q&A
In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:
- Jake asked: “I’m 62 and planning on retiring at age 70 and collecting social security at that time. My equity allocation is under 20%. I’m planning on adding with dollar cost averaging $10-12,000 a year for the next 8 years in the following: growth funds, international funds, stock market, and balance funds. I have 3-years’ worth of living expenses in cash. This would bring my allocation up to 25% at equities. Is this a good plan to meet long-term growth goals for retirement?”
- Tim asked: “My father died and had no other assets other than a life insurance policy for about $10,000. He had a naming all three kids as beneficiaries. Does the life insurance go to the youngest brother who is named as the beneficiary of the life insurance, or does the will control where the assets go?”
Links & Resources
AlzElderCare.com
CJBerryGroup.com
TheChrisBerryShow.com
Michiganestateplanning.com
Register for one of our free estate & asset protection workshops
Follow us on Social Media
Twitter: www.twitter.com/ElderCareFirm
Facebook: www.facebook.com/chrisberryshow
LinkedIn: www.linkedin.com/in/christopherjberry
