Mike Wallace was a man who suffered no fools or liars. And a man whose raised eyebrow and disbelieving “come onnnnn…” could turn even the toughest interviewee into an incoherent pile of mush.
Mike Wallace suffered from dementia at the end of his life. And spent much of those last few years in a facility.
In a recent interview, FOX’s Chris Wallace revealed that his Dad – who, like many of us, probably devoted far too much time to work at the expense of family – could no longer seem to remember his work. Only his family!
Being the well-prepared professional he was, it’s probably safe to assume that Mike Wallace had been studious about his estate planning.
What about you? Are you preparing for your later years – and your eventual demise – as much as you should be? Are you comfortable that your family will be provided for, and that your wishes will be honored?
If you’re a Baby Boomer, next time you’re at a gathering of fellow Boomers, take a look around. One of every eight people in the room will eventually get Alzheimer’s. And the “one” may be you.
If you do become mentally incapacitated, it’s too late to make changes in your estate planning documents. And unless you’ve made other arrangements, your family may be subject to an expensive, embarrassing, and possibly acrimonious (among themselves) proceeding in the courts.
Do you have Powers of Attorney for both your healthcare and your financial/legal matters? If so, are the agents you chose then still the ones you’d choose today? Have you named second agents for each area, in case your designated agent(s) is unable to do the job?
Do you have a living will/advance directive, so your family will know your end-of-life-care choices?
Are your assets enough to require a living (revocable) trust to manage them if you can’t?
Have you updated your will recently, to reflect your present circumstances and choices?
Are you completely confident that your assets are protected?
Have you provided for long-term care for yourself and your spouse? (Statistics say one or both of you will need it!)
At The Law Offices of Alice Reiter Feld & Associates, this is what we do…and only what we do. We’re Elder Law attorneys. And for the past 33 years, we’ve walked thousands of South Florida families through the Elder Law Maze…with comprehensive estate planning, wills, trusts, powers of attorney, asset protection, long-term care planning, Alzheimer’s/dementia assistance, and issues with the VA or Medicaid.
We’ll walk you and your family through the maze…with professionalism, with compassion, and with a soft shoulder when you need it.
And we’re just a phone call away.
Mike Wallace Had Dementia