Are Your Affairs in Order?
When a doctor gives you a terminal diagnosis, many times they say something like, “Get your affairs in order and enjoy life.” At that moment, you just nod and say, “Okay.” Then you go home and you then you stop to think, “Just what does that mean?” Especially with dementia, it is imperative that you revisit all of your estate planning documents as well as some additional documents while the person with dementia is still has legal capacity – the ability to understand and appreciate the consequences of his or her actions. So what are these documents that you need to consider? First, you will want to have Powers of Attorney (POAs) in place for both financial and legal decisions as well as a Healthcare Power of Attorney for medical decisions. Let’s start with the financial POA. This document will allow the person with dementia (the principal) to name another person (the agent) – usually a spouse or trusted family member – to make financial decisions as well as other legal decisions w...