Legal and Financial Steps for Dementia Patients

It’s very important to understand what financial steps for dementia patients must be taken.

Very often Alzheimer’s Disease and other forms of dementia are diagnosed before the patient is mentally incapacitated. Once a diagnosis has been made, it’s important for the family to take immediate action. This immediate action includes starting legal and financial steps to secure the health and wellbeing of the patient and family members.

When it comes to financial steps for dementia patients, consider if there is an existing estate plan already in place. Now is the time to review it and make any necessary updates.

If there is not yet a plan, the first step is to bring the family together. This is the ideal scenario when discussing steps for dementia patients, including financial and care plans.

Discussing financial needs and goals early on enables the person with dementia to still understand the issues and to talk about their wishes. It’s of utmost importance to discuss how ongoing care will be handled financially. It’s of utmost importance to discuss how ongoing care will be handled financially and whether the patient is eligible for Medicaid. Also, designating healthcare and financial Powers of Attorney will be an integral decision.

The following are financial documents to include in the earliest discussions:

Bank and brokerage account information
Deeds, mortgage papers or ownership statements
Insurance policies
Medical and durable powers of attorney
Monthly or outstanding bills
Pension and other retirement benefit summaries (including VA benefits, if applicable)
Rental income paperwork
Social Security payment information
Stock and bond certificates
Wills

In addition, there are many ongoing financial duties to discuss, including:

Paying bills
Arranging for benefit claims
Making investment decisions
Preparing tax returns

A dementia diagnosis is never good news. However, if the family is supportive and discusses the important details I’ve outlined above as soon as possible, the journey can be a little easier for all involved. If you or a loved one has recently been diagnosed with Alzheimer’s or age-related dementia, it is integral to have important legal, healthcare, and financial documents in place before the Alzheimer’s patient becomes incapable of making important decisions. If you would like to review an existing estate plan or create a plan, give my office a call today at (470) 235-7868.

Looking to find an experienced estate lawyer in the Georgia area who is skilled in asset protection and estate plan preparation? Shannon Pawley is an attorney in Georgia with expertise in estate planning and asset protection. Shannon can provide assistance with creating an estate plan to include making a will and how to establish a trust properly. If you have questions about asset protection or questions about making an estate plan, reach out to Shannon and she will be glad to help answer all the estate planning questions you might have!

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21:58 07 Feb 24

Shannon and her team were great. Went in for a consultation and got my money worth. She explained and made sure we understood. I will be using them in the future.

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We had excellent service from Shannon and her team, they are true professionals and helped us and explained every step in the process. We highly recommend The Estate and Asset Protection Law Firm.

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Stephanie Deal

15:22 07 Jul 23

My father and I recently used the estate, an asset protection, law, firm for new wheels, new, power of attorney’s, and a creation of a trust. Brooke and her entire team could not have been more helpful and more professional! We loved working with them, and they took everything seriously therefore I didn’t have to worry about a thing. I highly recommend everyone at the law firm.

Barry Amos

01:22 01 Jul 23

Great firm. Had answers to all our questions and explained everything clearly. Never felt rushed to make a decision Could not ask for a better experience. Every one we dealt with was professional and knowledgeable. We highly recommend this firm for estate planning.

Lee Jay

21:30 28 Jun 23

Shannon provided invaluable information regarding a family estate matter. Although her firm did not quite fit our immediate needs, the consultation was informative and extremely HELPFUL! Shannon clearly explained what our next steps should be and offered to assist if we had any questions along the way. Her expertise and willingness to help puts her in a league of her own!

Alice Guppy

02:01 23 Jan 23

Shannon and everyone at The Estate and Asset Protection Law Firm are professional, very knowledgeable, and a pleasure to work with. They answered all our questions in great detail and the plan they developed for us is exactly what we need to protect our assets and estate as we age especially with my husband's health issues.

Lynn McKibbin-Moore

23:09 24 Feb 22

My husband has dementia. This firm has been patient, kind and professional while we went through a move from a house of 37 years in to a condo to be closer to my daughter and her husband. (Miami to Atlanta). There was also a wedding. All in 6 months.We now have a trust, power of attorney. Wills for my daughter and her husband and more. All at a fair price. I could not recommend higher.

Tammy Lee

22:03 29 Jan 22

Shannon Pawley and her team are exceptional at helping families navigate tough situations. We began working with her upon finding out my father had Stage 4 kidney cancer. His decline was more rapid than expected.Attorney Pawley and her entire team expedited paperwork that allowed me to focus on my father’s care, make decisions that suddenly needed to be made for him medically and financially, and has allowed me the ability to focus more on grieving and less on legal matters upon his passing.It is obvious she is knowledgeable about the best ways to navigate estates to protect the assets for the owners and their loved ones. It is just as obvious that she is passionate and has true heart for what her clients go through.We will be using her for own estate needs, and I recommend her expertise to everybody I can.This service is worth every penny we paid as it has saved us more money and time than I could imagine.

H Jessie Brewer

18:26 18 Nov 21

Attorney Shannon Pawley and paralegal Alexis McCoy are legal professionals that my wife and I highly recommend. Their grasp of the Georgia law pertaining to Medicaid assistance and the interworking's of the State department is exceptional. Additionally, their client-attorney relationship skills are excellent. We wouldn't hesitate to use this law firm again should the need arise.

Dawn Hardy

15:06 13 Nov 21

Shannon and her team are the best! They listened to my needs and provided the best advice. They are patient and professional as well as personable, they didn't make me feel like I was just another client. Highly recommend!