Few things in life are certain. Of course, there’s death and taxes. In addition, if you have not already noticed, there is the inevitable decline in financial decision making that occurs as we age, impacting family finances. Sometimes this decline is gradual, beginning in the early 60s for many and accumulating slowly over the following years. Sometimes the decline is abrupt, for instance when the spouse that handles the family finances dies unexpectedly and the surviving spouse is left to handle everyday financial matters and important decisions for which they are ill-prepared and lack experience. Sometimes the decline begins gradually but is then compounded by an Alzheimer’s diagnosis, which accelerates the decline in decision making precipitously.
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