dementia

Selling a House for a Loved One With Dementia

Many people find themselves in the challenging position of having to sell a loved one’s home to pay for that person’s medical care. While this is a difficult ordeal regardless of your loved one’s condition, selling a home becomes even more complex if a loved one is suffering from dementia or mentally incapacitated. To better prepare individuals who find themselves in such a situation, the following reviews critical details that caregivers should appreciate before taking steps to sell their loved one’s home. Can a Person With Dementia Sell Their Home? Only the individual who owns a home can transfer the house to a buyer. If an elderly person has become incapacitated, that individual must appoint someone else through the terms of a durable power of attorney document to act on the individual’s behalf before a sale can occur. If a caregiver or family member has no legal authority through the proper estate planning tools to do so, this individual cannot sell the home. Selling a Parent’s Home When You Have Power of Attorney The authorizations in a power of attorney document distinguish what a person can and cannot do. Many financial power of attorney documents grant an agent the broad [...]

2020-10-17T19:43:17+00:00Tags: , , , , |

Alzheimer’s and Your Estate Plan: Three Celebrity Lessons

Speak with an Experienced Estate Planning Lawyer Today Dementia refers to several symptoms including memory loss, foggy thinking, and a decline in problem-solving abilities. Several conditions that can result in dementia include Alzheimer’s, Parkinson’s, and Huntington’s Disease.  While it can be frightening to think of a time when dementia impacts your ability to make a decision, if you fail to plan for the future, there is a risk that you might end up placing your estate at risk. Unfortunately, after dementia reaches a point where you are unable to control your assets, you will no longer be able to alter your estate plan.  In these situations, the only options that your family has to file for guardianship. To help reduce the risk that you make an estate planning error, this article reviews three lessons learned from how the estates of celebrities with Alzheimer’s were administered. Glen Campbell Glen Campbell first admitted to the public that he had Alzheimer’s in 2011. When Campbell later passed away in 2017, he left eight children and a widow. Even though several of Campbell’s children sued over the administration of the estate, it was later determined that Campbell’s estate planning documents were valid because he [...]

2019-12-28T19:23:57+00:00Tags: , , |