In a recent article published by The Daily Upside, RMO LLP founding partner Scott Rahn discussed how the growing prevalence of cognitive decline, including early-onset Alzheimer’s disease and related dementias, can create significant challenges for individuals and families when important legal and financial decisions are delayed. The article examines why many people postpone estate planning until a diagnosis or health event makes proactive decision-making more difficult.
Scott explained that diagnoses involving cognitive impairment often create stressful and emotionally charged circumstances that complicate planning efforts. He also noted that increasing awareness of cognitive decline may encourage more individuals to address important legal matters before questions regarding capacity arise.
“A lot of the media attention we see about cognitive diseases is dedicated to amazing advancements in treatment for older Americans. We’ve moved mountains, but unfortunately, the good news has obscured another reality I’m seeing on the ground in the growing prevalence of early-onset disease.”
The article further highlights Rahn’s observation that rapid cognitive decline can increase the risk of exploitation when clear plans and expectations are not already in place.
“Another reality that I’ve seen in my practice is that rapid cognitive decline, at any age, invites exploitation. If the client doesn’t have a solid plan in place that all the stakeholders and potential caregivers understand, the result can be pretty disastrous.”
Issues involving capacity, trust creation or modification, decision-making authority, and the actions of caregivers or fiduciaries can become more complex when cognitive impairment is present. In estate, trust, and probate matters, these circumstances may contribute to disputes involving fiduciary conduct, asset management, beneficiary rights, or the administration of trusts and estates.
Facing a cognitive decline or fiduciary dispute issue? Connect with RMO LLP to discuss how we can help you protect your interests and resolve fiduciary and inheritance disputes.