Estate Planning For Dementia Patients

People often start getting their affairs in order after receiving a diagnosis for a chronic or degenerative illness. However, a dementia diagnosis can complicate an estate plan, particularly if it was executed after the diagnosis. If you or a loved one has been diagnosed with dementia, there are important things to know about creating an estate plan. Below, our Daytona Beach estate planning attorney outlines what these are.

Estate Planning is Time-Sensitive for Dementia Patients 

As people age, they become more susceptible to degenerative diseases that not only affect their physical condition, but also their mind. Degenerative diseases such as dementia are particularly difficult for patients, as well as the loved ones who are trying to provide the care they need. If your loved one has been diagnosed with dementia, it is critical that you make estate planning a priority. As dementia progresses, it will become increasingly difficult for your loved one to make the necessary decisions that will ensure their interests are protected.

Concerns Regarding Legal Capacity for Dementia Patients 

As dementia progresses, it can interfere with a person’s ability to understand the world around them, as well as interact with it. Legal capacity is at the center of estate planning, and it simply refers to whether someone is of sound mind and can make legal decisions on their own behalf.

As the symptoms of dementia progress, a patient’s legal capacity may come and go. It is critical that someone has legal capacity when they are drafting estate planning documents. When there are questions surrounding the legal capacity of a dementia patient, it increases the chances of a will contest due to undue influence or lack of capacity.

If your loved one’s dementia has progressed significantly and they no longer have legal capacity, they will not be able to draft a will or other estate planning documents. Typically, they also cannot make decisions regarding the medical treatment they do or do not receive. If these estate planning documents have not yet been created, you may need to petition the probate court to appoint a conservator or guardian to handle your loved one’s financial affairs.

Important Estate Planning Documents for Dementia Patients 

There are many important estate planning tools for dementia patients. These include:

• A will: At the heart of nearly every estate plan is a will. This legal document outlines what will happen to property after death, names a personal representative who will administer the estate, and names a guardian for any minor children.
• Revocable trust: A revocable trust is a separate legal entity from the grantor, or person who created it. Property can be transferred to the trust and upon the grantor’s death, the successor trustee will distribute it to the beneficiaries according to the terms of the document.
• Powers of attorney: A power of attorney designates someone to act on a person’s behalf if they are ever incapacitated and cannot make legal and financial decisions for themselves.

Our Estate Planning Attorney in Daytona Beach Can Draft Your Documents 

If your loved one is living with dementia and they need to draft documents, or you need to petition the court, our Daytona Beach estate planning attorney can help. At Bundza & Rodriguez, our experienced attorney can provide the legal advice you need to protect your loved one today, and in the future. Call us now at 386-252-5170 or contact us online to schedule a consultation and to learn more about how we can help.

Source:

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0736/0736.html