Estate Planning With Dementia: What You Need to Know in Michigan

Our Michigan Attorneys Discuss Estate Planning for People With Dementia 

It’s not unusual for individuals to suffer from dementia as they age, which can negatively impact their ability to take care of themselves and make their own decisions. If you have dementia, it’s important to act quickly to create your estate plan or to update your will and other estate planning documents. 

At Estate Planning & Elder Care Firm of Michigan, our experienced Livingston and Macomb County estate planning lawyers can help you create an estate plan when you have dementia that takes care of your loved ones in the ways you want after you die. We can also prepare the other legal documents you need so that a family member or someone else you trust can handle your financial and medical decisions if you can no longer make them because of your dementia.

Estate Planning: Why It’s Critical to Act Quickly When You Have Dementia 

Dementia is a devastating medical condition that can limit your memory, judgment, and other cognitive abilities. If you believe you are developing dementia or have been diagnosed with dementia, you should consult with an estate planning attorney right away who can help you create your estate plan or update your current one if you need to make changes to it.

Why is this so important? You must be legally competent to sign a will and other legal documents in Michigan. If you wait too long, your condition could progress to a point where you can no longer execute legal documents.

If you have no will, your property would be distributed after you die under Mich. Comp. Laws § 700.2102 and Mich. Comp. Laws § 700.2103, which are Michigan’s intestate succession laws, or under an old will that no longer accurately reflects your wishes. In addition, you would not be able to sign a financial or medical power of attorney or a living will so that someone can take care of you if you cannot take care of your affairs because of your dementia.

Competence Requirements for Michigan Estate Planning

You must have the ability to understand the meaning of the documents and the consequences of your decisions to be considered competent to sign your legal documents in Michigan. Under our state’s laws, you would be competent to create and sign your estate planning documents if the following is true:

• You understand that you are providing for the transfer of your assets after you die.
• You know the nature and extent of the property you own.
• You know the natural objects of your bounty, which means that you understand who the individuals are that you want to give your property to.
• You have the ability to understand the general nature of the documents you are signing.

Creating or updating your estate plan now, while you meet these requirements, is vital. Doing so will help make the probate process go smoothly for your family and avoid will contests after you die.

Key Legal Documents to Include in Your Michigan Estate Plan

At Estate Planning & Elder Care Firm of Michigan, our legal team will help you create an estate plan tailor-made to fit your particular needs and wishes to provide for your loved ones upon your death. Our estate planning lawyers generally recommend including the following documents:

• Will. In your will, you state how you want your property distributed after your death. Your will should include the appointment of a personal representative and a guardian for any minor children, a clear distribution plan for your assets, and the designation of contingent beneficiaries if your heirs die before you.
• Trust. Depending on your situation, you may want to create a living trust to hold and manage your property during your lifetime and after your death to avoid the probate of your estate. Our attorneys will evaluate your assets and individual needs to determine if creating a trust is in your best interest.
• Financial power of attorney. You should include a financial power of attorney as part of your estate plan so that a family member or other trusted person can handle your financial matters if you can no longer take care of them due to your dementia.
• Medical power of attorney. You should also include a medical power of attorney in your estate plan. This document will let someone else make your medical decisions if you cannot make them yourself because of your dementia or another medical condition.
• Living will. You should also have a living will, which is a legal document that tells your doctors and family what you want to happen if you cannot communicate your wishes because of your dementia or another medical condition, such as a stroke. For example, in this document, you can specify what you want to happen if you need life support or feeding tubes to keep you alive.

Our experienced attorneys are here to help you with these documents and all your estate planning needs. We can meet with you in our Howell and Clinton Township offices or via a virtual appointment.