Escapees September-October 2024

“…although medical treatments are advancing, it is estimated that up to 30% of Americans over 65su ff er from some form of cognitive impairment.”

over the age of 65 is expected to increase by 5% (from 18% of the US population to 23%). And although medical treatments are advancing, it is estimated that up to 30% of Americans over 65 suffer from some form of cognitive impairment. These are not numbers to dwell on, though they should still be acknowledged to establish the right perspective on why certain decisions may be important to focus on now. Financial Power of Attorney What if you were to encounter a cognitive disease and it were to progress beyond a point where you were no longer able tomake fi nancial decisions on your own behalf? What if there was a vehicle accident whereby you and your spouse were hospi talized for an extended period of time? Who would make fi nancial decisions for you? Who would be legally allowed to make withdrawals from your bank account to pay your bills? Do you have the documentation in place naming your fi nancial Power of Attorney (and any alternates) that would have the legal authorization to be your agent to make fi nancial decisions that they

If you have not paused to think about the “what-ifs” of life (and I envy you if you have not), you should take a moment to ask : “Who has the power for me if my health doesn’t hold, and I can no longer make my own medical decisions or if I am incapac itated for a long period of time due to an accident and can’t pay my bills?” Although it is not happy thoughts, a little planning now could save you time and money. Additionally, the peace of mind that there are contingency plans in place, allows you to focus more freely on the adventures all around you. Most can agree that America as a whole is an aging population. In the next three decades, the percentage of Americans

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ESCAPEES Magazine September/October 2024