Early Detection Saves Fortunes: Research reveals families who receive early diagnosis of memory-related conditions don't experience the devastating 50% wealth loss that typically occurs in the 8 years before a dementia diagnosis.Here's how to protect your wealth:
- Set up automated fraud detection and monitoring systems for unusual financial patterns
- Create a trusted circle of financial advisors and family members for oversight
- Get regular cognitive health screenings, especially after age 50
- Document all financial accounts and share access information with trusted family members
- Establish legal protections like trusts and power of attorney while cognitively healthy
The key is taking action before signs of cognitive decline appear. Early intervention and proper planning can help protect your family's financial future.
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