According to the Alzheimer’s Association, one in three seniors in the United States contracts Alzheimer’s or dementia. Memory loss is a devastating disease and requires selfless acts of giving from family and friends to help those who are suffering. Some of the first signs of dementia are a person’s declining financial abilities. As an advisor to clients, my main objective is to help ensure the disease of memory loss does not lead to a financial crisis. If you have a loved one suffering from dementia or Alzheimer’s, then using a trusted advisor can serve as a wonderful tool to help begin the conversation of protecting assets from the long-term effects of the disease. We can ask the tough questions to begin the conversation. The path to long-term financial security in the wake of dementia can begin with a simple conversation.
Nick S. Wold, CPA, MA