When you feel perfectly healthy and of sound mind, the possibility of someday being unable to handle your own affairs may seem unthinkable to you.
In truth, you would do well to understand the facts, because the human condition is not an invincible one.
People are enjoying increased longevity during our current era, and it is not uncommon for individuals to live into their mid-80s and beyond. It would probably be safe to suggest that most people who consider themselves to be healthy would not be surprised if they were to live to the age of 85 or older.
According to a very well researched, in-depth report on Alzheimer’s disease produced by the New York Times, upwards of half of individuals who have reached the age 85 have contracted Alzheimer’s.
Those who suffer from Alzheimer’s induced dementia often find it impossible to make sound medical and financial decisions. Many individuals so afflicted also require expensive long-term care for extended periods of time.
When you look at the odds, it would seem rather irresponsible to simply assume that there is no need for you to prepare for the possibility of Alzheimer’s disease during the latter portion of your life.
Those who never plan ahead for possible future long-term care costs are gambling. It is also rather risky to enter your senior years without having executed durable powers of attorney naming decision-makers of your own choosing to handle things on your behalf should you become incapacitated.
The above logic is hard to refute. Should you be interested in taking action to prepare for the possibility of incapacitation later in your life, contact our firm at (408) 356-9200 or (831) 476-2400 to arrange for a free incapacity planning consultation.