Living with the Cost of Dementia: Michael Zeuner comments to the Financial Times

February 20, 2017

Many families know the emotional and physical distress caused by a loved one suffering from dementia. Often along with it, unfortunately, is also a financial cost. Families in this situation face many similar obstacles: tax and estate planning, gifting, assigning a power of attorney and managing the cost of care. For very wealthy families, the questions become even more complicated.

In a recent article in the Financial Times, Michael Zeuner, managing partner at WE Family Offices, discusses the situation when the family decision-maker is facing mental incapacity and may no longer be able to lead the family’s wealth enterprise^®.

“Here you have a decision-maker who has created wealth, and over their lifetime has been very comfortable making decisions and putting together a complicated enterprise,” says Zeuner. “It is a question of helping the family step back and just understand who is going to be the decision maker going forward.”

Subscribers to the Financial Times can read the full article here. For an in-depth discussion about transitioning the decision-making role in a family, read our recent white paper.