Oakland County MI Estate Planning Law Blog

Dementia is one of the most debilitating conditions afflicting the elderly. The Alzheimer’s Association estimates that 5.8 million people currently suffer from this disease in the United States alone. If your mother or father is one of them, you know you have a difficult road ahead.

While it is unpleasant to plan for the passing of a loved one, it is crucial to prepare when the person involved has dementia. It is never too soon to sit down and discuss your parent’s estate plan, including any existing paperwork and undocumented wishes.

The internet may be an excellent source of information, including forms to assist with estate planning. However, people who download these documents may not know what it is needed to know about Michigan law and estate planning. Do-it-yourself form documents may not address the many complexities surround the planning and drafting of wills and other important documents.

Prudent estate planning incudes drafting documents and planning for unexpected events besides distribution of property after a person dies. A power of attorney is recommended for the time when a person cannot make financial or medical decisions for themselves. Knowing what this document can do, however, is an important part of this planning.

First, there is no one standard power of attorney document. Michigan and other states have different requirements. Some states do not recognize a power of attorney from outside their jurisdiction. Because a power of attorney is a contract granting important decision-making powers to another person, the principal executing the document must have sufficient mental capacity. A power of attorney cannot be used instead of a guardianship if the person does not have mental capacity.

Estate documents are usually utilized for assuring the proper distribution of funds after a person dies or dealing with issues near the end of their lives. But, there is also reassuring news for those who plan to have their body scientifically frozen for future revival. Estate planning may cover this process, known as cryonics, through the creation of a future income trust, which allows access to assets until a person is ultimately revived and keeps the trust's contents from melting away.

Two cryonics centers exist in this country. The Cryonics Institute in Clinton, Michigan, has almost 200 bodies in storage. It places the body is a large container known as a cryostat. Liquid nitrogen at negative 328 degrees suspends all cell activity. Fluid is checked each week and topped off when necessary. All water is removed from the cells before the body is placed in this device, so it does not expand and tear the cellular tissue apart. This facility charges $28,000.