For seniors experiencing memory loss, estate planning is crucial in ensuring that their financial and healthcare decisions are properly managed, even if they are no longer able to do so themselves.
Memory loss can be a challenging and disorienting experience, especially when it comes to managing financial and healthcare decisions. Seniors who are experiencing memory loss should prioritize creating an estate plan that clearly outlines their wishes, including who will make decisions on their behalf. A durable power of attorney and healthcare proxy are essential for individuals with memory loss, as these documents allow a trusted person to manage financial matters and make medical decisions if the senior is no longer able to do so. In addition to these, setting up a living trust can help protect assets and ensure that the senior’s estate is managed according to their wishes, providing peace of mind during an uncertain time.