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Once-A-Day Aricept® (donepezil HCI)

Legal & Financial Concerns

If you are caring for a loved one with Alzheimer's disease, you may want to plan for the future. You should start as early as possible. This way, your loved one may be able to take part in some of your family's discussions about the future.

Some caregivers may need to make plans that involve finances. Or, legal matters may need to be addressed. These are complex issues, and laws are not the same from state to state. If you need to make such plans, it may help to seek advice from a lawyer or financial planner with expertise in these matters.


Legal concerns

As a caregiver, you should think about obtaining the following legal documents:
  • Durable Legal/Medical Power of Attorney: allows you to make legal or health care choices for your loved one when they no longer can
  • Living Will/Advance Directive: allows your loved one to express wishes about medical treatment before they become unable to communicate these wishes
  • Will: records your loved one's decisions about what happens to property (estate) inheritance

You may decide to talk to a lawyer about these documents. If you do, be sure to find one with expertise in elder law. This branch of law focuses on the needs of older people. A lawyer with expertise in estates and trusts may also be helpful.
Financial issues
You may also need to make plans for your loved one's financial future. As care needs increase, expenses may increase as well. Here are some issues you may need to consider when planning for the future:
  • Personal income — joint checking and savings accounts, expenses
  • Pension or retirement funds — penalties for early withdrawal, payment schedule
  • Social Security — benefits, eligibility, payment schedule
  • Health care insurance — coverage, medical benefits, prescription plan
  • Medicaid — a program that pays for medical assistance for certain people and families with low incomes and resources — eligibility, enrollment
  • Medicare — a federal health insurance program for people age 65 and older — eligibility, enrollment

Note: If your loved one had prescription drug coverage through Medicare, their benefits may have changed. If your loved one's resources are limited, they may be able to get extra help from Medicaid. It may also mean lower co-pays.

This Web site and the information contained herein is for informational purposes only and is not legal advice about matters discussed. This Web site is for providing general helpful information to members of the public who may need to seek the assistance of a licensed attorney for any legal or eldercare advice.
Learn how to cope with long-distance caregiving

National Academy of Eldercare Attorneys
Find an eldercare attorney
near you.
The American Bar Association
Use their referral service to find an attorney.
Social Security Administration
Learn how you can apply your loved one's benefits toward care.
Centers for Medicare and Medicaid Services
Learn about federally subsidized health care plans.