Protecting Assets From Dementia

I recently read an interesting article from Spectrem’s “Millionaire Corner” titled High Net Worth Wealth Management: Protection From Dementia. The article reports that the greatest fear of millionaires is losing the ability to make financial decisions. I would modify that to include all investors of an advanced age. According to a well-publicized study by Harvard University researcher David Laibson the Article reports that the ability to make effective financial decisions peaks in middle age and then declines substantially over time.  In fact, significant cognitive impairment that is not dementia affects another 30% of seniors 80 and over.  According to elder law specialist Jeff Marshall that leaves half of investors age 80 and older unfit to make complex financial decisions. Continue reading “Protecting Assets From Dementia”