What should Alzheimer’s caregivers know?
If you have a family member who has been diagnosed with Alzheimer’s disease or is starting to show symptoms, you will face some emotional and financial challenges. Here are a few suggestions that can help:
First, plan for the medical costs involved and make sure you understand what health insurance your loved one has, including any coverage for long-term care.
Also, identify all your loved one’s financial assets and debts.
You may need to work with your legal and tax professionals to create appropriate documents, such as durable powers of attorney for health care and finances. And you’ll want to take care of these while your loved one still has the capacity to give consent.
Here’s another tip: Look for tax deductions and credits available to caregivers. These vary by state, so check with your tax advisor.
You may also want to work with a financial professional who can look at your family’s situation and make suitable recommendations
An Alzheimer’s diagnosis will unquestionably change the lives of everyone in your family. But as a caregiver, you can take steps to help ease the burden.
This content was provided by Edward Jones for use by Bryan White, your Edward Jones financial advisor at 10760 FM 2813, Suite 200 Flint, TX 75762 – (903) 705-6107.