The Alzheimer’s Association’s conducted a study in 2017 and reported an estimated 5.5 million Americans of all ages have Alzheimer’s disease. Of that 5.5 million Americans living with this dreadful disease, an estimated 5.3 million are age 65 and older. Alzheimer’s is a progressive mental deterioration that can occur at any age due to generalized degeneration of the brain. It not only affects the person who becomes victim to the disease, but it affects their family members and caregivers, as well. The good news? Pyke & Associates, P.C. is here to help! While there are multiple physical effects of this disease, one can also suffer from legal and financial issues due to Alzheimer’s disease if not proactively prepared. That’s where we come in. Pyke & Associates, P.C. is dedicated to helping address those legal and financial issues as soon as possible for the protection of the patient and their family.
Here at Pyke & Associates, P.C., we can provide service to you from day one of your diagnosis. Not only will we manage the legal issues that can arise after an Alzheimer’s diagnosis, but we will also help guide you and assist you with organizing your next steps of financial planning for an uncertain future. Feel free to give us a call at 770-507-2500 to acquire more information about how we can create a plan catered to the needs of you and your family.
Maybe you have had some of these of questions:
- What are my next steps after being diagnosed with Alzheimer’s?
- What tools are available to me to address the legal issues that can arise with an Alzheimer’s diagnosis?
- How can a Georgia Alzheimer’s planning attorney help me?
Those are great questions! Here are some brief explanations to provoke some thought:
What are my next estate planning steps after being diagnosed with Alzheimer’s?
It is always important to explore what resources and support systems are available to you and to those who may be taking care of you at some point during your new journey with Alzheimer’s. It is obligatory to make sure the patient’s affairs are in order; especially since Alzheimer’s is a progressive condition. Some of the topics that may need to be addressed include:
Will the patient be cared for at home or in a facility?
If the patient will be cared for at home, some resources to be considered are: adult daycare, respite care for caregivers, etc. There are several programs that target making the home care experience less demanding.
How will costs of care be covered?
The important piece of information to be considered here is, if the patient requires nursing home care or costly home healthcare services, Medicare and private pay insurance are not obligated to cover 100% of care. Medicare does not pay for routine custodial nursing home care – they only provide coverage if skilled medical services are necessary. Not all patients qualify for skilled nursing. This means a patient could potentially be forced to expend personal funds until they qualify for Medicaid. The good news is, some of the said funds and assets can be protected by creating a Medicaid plan with Pyke & Associates, P.C.
What will happen when a patient is no longer able to manage his own affairs?
This is a very common concern among clients, and for good reason. No one knows what will happen to them or when; therefore, the best thing to do is be proactive. A person with Alzheimer’s is inevitably going to become unable to manage his own assets and/or make his own medical decisions – especially once the disease progresses. The best plan of action is having a plan before you need one. Having a plan in place ahead of time will allow you to designate who will be responsible for making decisions on your behalf and ensure that your assets are taken care of in the event you become incapacitated. Taking the steps to have a plan in place will grant you peace of mind when the time comes for your care to be in someone else’s hands.
What will happen when the patient passes away?
No one likes to talk about their loved ones passing away, but Pyke & Associates, P.C. affords clients several ways to plan for their legacy while they still have the capacity to think, reason and understand on their own. There are several avenues to ensure your assets are protected and your heirs are taken care of. While everyone has a unique family and financial situation, the Alzheimer’s planning attorneys at Pyke & Associates, P.C. can discuss your circumstances with you and develop a personalized plan for you to understand and take advantage of all the different ways to protect yourself, your assets, and your family members after an Alzheimer’s diagnosis.
What tools are available to me to address the legal issues that can arise with an Alzheimer’s diagnosis?
Pyke & Associates, P.C. will equip you with a variety of tools to secure protection for you and your family. Some of those tools may include, but are not limited to:
- Creating Advanced Healthcare Directives such to express your wishes for the medical care you do or do not wish to receive.
- Naming a healthcare agent who can make choices on your behalf when a decision must be made and you are incapacitated.
- Creating a Financial Power of Attorney to manage assets when you are no longer able to manage your own property and investments.
- Using Trusts to protect assets, to qualify for Medicaid coverage, to protect your heirs, etc.
- Creating a Last Will and Testament to determine who will inherit money and property after you pass away.
How can a Georgia Alzheimer’s planning attorney help me?
It is critical to act efficiently after an Alzheimer’s diagnosis to make plans while you are still mentally able. Don’t hesitate. Contact us today at 770-507-2500 or online at www.cpyke.com to discover what Pyke & Associates, P.C. can do for you. It is our pleasure to serve you.