November 2022 Monthly Newsletter Cover Article

November is Alzheimer’s Awareness Month. Take control by organizing papers, passwords, and living plans. We’re here to help ease the stress.

November is Alzheimer’s Awareness Month, a time set aside to raise awareness about the disease that affects over 6.2 million people in the United States. To support them and their families as they navigate the challenges of Alzheimer’s and dementia.

Whether it be Alzheimer’s or another condition, many of the elderly find that as they enter the later stages of their lives, their health and/or certain unforeseen events may limit their ability to make crucial decisions for themselves, and that’s where planning comes in.

While having the proper estate planning documents in place is a great starting point, there are so many non-legal aspects of planning that make for a smoother transition. Listed below are some items to think about:

• Organizing your important papers: (not only your estate planning documents but also tax returns, bank and brokerage statements, life insurance policies, and information about pensions and retirement plans)
• Downsizing your personal belongings
• Organizing (and safeguarding) passwords for your online accounts
• Asking a loved one to accompany you to appointments with your doctor and other health care providers
• Introducing your loved ones to your banker, financial advisor, and other professionals (and asking the advisors a critical question: “If something happens to me, will you still handle my account, or will it need to be handled elsewhere within your institution?”)
• Evaluating your living arrangements — do I plan to remain in my current residence or would I prefer to downsize? What type of modifications will I make to my home to make it more accessible as I age? What is the risk of social isolation if I remain in my own residence? Maybe I prefer a more social environment like an assisted living community? How does my financial situation affect these wishes?
• Holding a family meeting to lay out your plans for your loved ones

Some of our clients ask us to facilitate these family meetings. Death, family, and money are highly stressful topics, and sometimes it helps to have a non-family member assist with the discussion. We can act as a neutral third party to help navigate the situation and make sure that all bases are covered, so it does not feel as daunting and it’s more informative for all parties involved.

If your aging parents have not yet shared information about their estate plan and other arrangements, you may wonder when and how to start the conversation. One way is to lead by example. You could let your loved one know that you recently did an estate plan and were surprised that the process was much easier than you thought it would be. Allow them to ask questions without pressuring them. Another way is to share an article, such as this one, and ask what they think about it. By sharing your experience and/or information, you can gather their thoughts in a welcoming manner.

Remember that estate planning is one of the most important ways to protect yourself and your loved ones. We are here to walk you through the process, reduce stress, and minimize any confusion or heartache down the road.