When someone is diagnosed with a life-changing disease, financial and estate planning requires attention. And while recommendations for these individuals may be the same as those for other individuals, there may be a greater sense of urgency to implement recommendations following a diagnosis. With January being Financial Wellness month, and the start of a new calendar year, I believe it presents an opportune time for individuals and families to discuss and plan for their financial futures.
More than 6 million Americans are living with Alzheimer’s disease. I believe life after an Alzheimer’s or mild cognitive impairment (MCI) diagnosis makes it important to become informed about and prepared for one’s long-term financial needs.
I believe financial and estate planning should be done before developing dementia and that an early diagnosis can provide an opportunity to prepare financial and end-of-life plans in the earliest stage. People diagnosed early may still be able to express their end of life wishes and participate in financial planning conversations.
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