With increased life expectancies comes the increased risk of diminished capacity. Financial advisors can play a key role in helping their clients face this peril and utilize various tools to mitigate the risks associated with cognitive decline. This article provides a survey of possible legal, advisor, and financial planning techniques that financial advisors can use in helping their clients, particularly older clients, manage the risk of diminished capacity.
Author: Steve Parrish, JD, RICP, CLU, ChFC, AEP, is the codirector of the Center for Retirement Income at The American College of Financial Services, where he also serves as an adjunct professor of advanced planning.
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