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Financial Planning Case Study Alzheimer's

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Per the Alzheimer’s Association, “Up to 5% of the more that 5 million American’s with Alzheimer’s have younger –onset” Alzheimer’s. It is imperative that financial planning be done soon after diagnosis. Decisions should be made while the person is able to understand the many facets of the financial planning process. The first step is to make sure all the important financial information is in one place and to share with someone you trust where these documents are located. If all the documents are in a safe deposit box, keep copies in a file at home with the location of the safe deposit box and key. The standard items to be combined are the will, power of attorney, and health care proxy. The deed to any property, insurance policies as well as any vehicle titles and registrations should be included. Provide an extensive contact list to include your financial advisor, attorney, accountant, bank contacts, doctors and any relatives and friends you would like contacted in the event of your death. A listing of accounts and their corresponding passwords should also be included. Investment account statements and the most recent tax return are a good addition. Each person’s …show more content…

Discerning the best person to act as your agent is very important. This person should be included in your planning from the beginning. Ask them to assist you with reviewing existing insurance policies to see if the policy will cover the cost of future care. Solicit their assistance with your finances. Introduce your agent to your financial advisor. Make your advisor aware of your diagnosis as investment goals can change with major life events. Your financial advisor can help you plan for your current and future needs. Your advisor may also be able to assist you in putting together a team of professionals ( attorneys and accountants) that will be able to assure that all your necessary planning is done prior to the disease

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401K Retirement Savings Account is needed for the employees and their families. It is needed because it helps the employee save money towards their retirement before taxes are taken out reducing your tax bill for the current year. As our employee, you have the option to control how your money is being invested through a spread of stock, mutual funds, money markets and etc.

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Instead, list specific beneficiaries such as alternate beneficiaries or residuary beneficiaries. Estate planning is difficult and there is no reason to make it more difficult. So, keep your beneficiary pool to a precious few and specifically list each beneficiary. In the end, nothing will be left to interpretation and your property will transfer

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Answer: if someone passes away and they do not have a will, their estate will enter intestate procedures. Each state has different procedures for handling assets these assets, but the fundamentals are technically the same. Within most states a percentage of the assets (ranging from half to two thirds) will go to the deceased children, with the remaining going to the spouse. If one of the parties mentioned above are non-applicable, the assets would shift fully to the applicable party. Complication may arise is there are no children or spouse alive.

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It provides the opportunity for prompt evaluation of the patient and possibly administer tests and treatments for reversing and determining the causes of memory loss. In addition, early diagnosis provides time for patients and families to prepare for the future and most importantly it maximizes the patients opportunity to contribute to their own care planning process. As previously stated, the diagnosis of dementia most commonly takes place in the primary care setting. During primary care visits with older or elderly people the interactions tend to be brief and patients often present multiple health conditions that they are experiencing. It can be challenging for the physician to pin point those intersecting health concerns with Alzheimer’s if they are not properly trained to do so.

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Introduction Alzheimer’s is a chronic neurodegenerative disease that usually starts slowly and gets worse over time. The most common early symptom is difficulty in remembering recent events or short memory loss. As the disease advances, symptoms can include difficulty with language, disorientation, mood swing and behavior problems. As a person 's condition progressed, they often withdraw from friends and family. Slowly, bodily functions deteriorated and eventually death occurs.

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The will could usually include ”a cash endowment given to children or grandchildren, but an inheritance may also include assets like stocks and real estate.” (Smith 1). Next, the will is submitted to the probate courts, where they will transfer the properties and assets. After the will is read over, the assets will be distributed to the proper heirs. In the novel, it shows the distribution of the assets, money and property in relation to the inheritance.

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An estate planning attorney is a vital factor in creating strategies to safeguard estate assets. Attorneys that specialize in this niche help people write a Will, establish trusts, power of attorney forms, and healthcare proxies. Employing an estate planning attorney is beneficial for people that want to avoid probate or minimize the amount of assets left in the estate. Probate is necessary in the U.S. to make certain estates are legally settled and heirs receive their rightful inheritance property. Probate can be a lengthy process that can make the estate vulnerable for having the last will and testament contested.

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Ask the client there likes and dislikes and there goals for their future this will become the start of your care plan. 1.6 Describe the key features of different styles of person-centred planning and the contexts in which they are most useful? The client is at the centre of the care: this requires having a meeting with the client and listening about what they’d like to do and what they don’t like. This means that the client is at the centre of attention in there care plan. Family members and friends input: this is taking information of their family and friends and using it in a care plan this can be helpful to know more about their cultures and life before entering the home.

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Nonetheless, you have to put it all together, right down to the last receipt, and verify the accuracy of all of your claims. Use individual file folders for each subsection of paperwork, and keep it all together in a main binder. Once you're certain you have everything you need to answer the call to audit, make copies in duplicate, separating the original documents from what you're going to send. 3. Go Directly To A Tax Advisory Service

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Dementia care may also be covered under long-term care planning. Long-term care insurance can help you save a lot of money. Many people who do not have long-term care insurance are forced to exhaust their assets. However, you can protect your assets by getting long-term care insurance. It is important to note that most people will require some form of

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and I don’t see remission in my future. I worry what the future holds and where I will be in 10 years. How will I take care of myself. Who will I have when my parents are no longer around? Taking life one day at a time is all I can do and that is scary in and of itself.

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Alzheimer’s Funding An Alzheimer's caregiver once said, “ We remember their love when they can no longer remember.” Alzheimer's is one of the leading causes of death in the United States; however, the federal government does not as much interest in funding for Alzheimer’s as they do in cancer. Alzheimer’s is the only cause of death in the top ten in America that can not be cured, prevented, or slowed. The disease starts mildly and gets progressively worse over a course of time.

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The roles and responsibilities of a financial advisor is to give their investors financial advice on valuable insight in investment. Financial advisor will talk to investors about their current finances and future plans. Financial advisor needs to assess the needs of each investor by helping them understand their investment and saving option to create appropriate financial strategies. They will also determine investors’ portfolio when it comes to investing such like their financial ability, the market trends and the risk tolerance of the investors. The financial adviser would also give advice on investment like stock, bonds, insurance or shares by matching the investors financial goal where they invest customers’ money based on their decision.

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