Can Exercise Help with Dementia?

A new study shows that even when your memory starts to fade, you can still do something about it by adding aerobic exercise to your lifestyle, reports News Atlas’ recent article entitled “Aerobic exercise shown to improve memory in those at risk of dementia.”

The study concentrated on the long-term changes to cerebral blood flow that comes from aerobic exercise in patients already presenting with age-related mild cognitive impairment. Thirty subjects with an average age of 66 who did not regularly exercise but had signs of memory impairment were divided into two groups.

One group was asked to do several aerobic exercise sessions each week for 12 months, and the other group performed stretch and balance sessions aimed at strengthening their upper and lower body while keeping heart rates low. MRI scans calculated cerebral blood flow in all participants at the beginning and end of the year-long study.

After a year, the aerobic exercise group showed increased cerebral blood flow to the anterior cingulate cortex and adjacent prefrontal cortex, relative to the stretching group. Memory tests conducted at the start and end of the study also showed a 47% improvement in the aerobic group, while the stretching group had only minimal improvements. The study suggests a direct correlation between improvement on the memory test scores and increases in cerebral blood flow to these key areas of the brain.

While the number of people studied was small, the results are consistent with a large volume of prior research affirming the value of exercise in maintaining cognitive abilities in older age. Aerobic exercise appears to confer the greatest cognitive protections, especially in those most at risk of Alzheimer’s disease.

The researchers note that the group of patients that were recruited in the study all reported little to no regular exercise prior to the trial. The novelty of this particular trial is that it offers signs that aerobic exercise can confer cognitive benefits, even when started at an advanced age, after memory decline has already started, and those cognitive benefits may be mediated specifically by improved blood flow to specific regions of the brain.

The study was published in The Journal of Alzheimer’s Disease.

Reference: News Atlas (May 24, 2020) “Aerobic exercise shown to improve memory in those at risk of dementia”

 

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What Happens when Mom Refuses to Create an Estate Plan?

This is a tough scenario. It happens more often than you’d think. Someone owns a home, investment accounts and an inheritance, but doesn’t want to have an estate plan. They know they need to do something, but keep putting it off—until they die, and the family is left with an expensive and stressful mess. A recent article titled “How to Get a Loved One to Visit an Estate Planning Attorney Before It’s Too Late” from Kiplinger, explains how to help make things right.

Most people put off seeing an estate planning attorney, because they are afraid of death. They may also be overwhelmed by the thought of how much work is involved. They are also worried about what it all might cost. owever, if there is no estate plan, the costs will be far higher for the family.

How do you get the person to understand that they need to move forward?

Talk with the financial professionals the person already uses and trusts, like a CPA or financial advisor. Ask them for a referral to an estate planning attorney they think would be a good fit with the person who doesn’t have an estate plan. It may be easier to hear this message from a CPA, than from an adult child.

Work with that professional to promote the person, usually an older family member, to get comfortable with the idea to talk about their wishes and values with the estate planning attorney. Offer to attend the meeting, or to facilitate the video conference, to make the person feel more comfortable.

An experienced estate planning attorney will have worked with reluctant people before. They’ll know how to put the older person at ease and explore their concerns. When the conversation is pleasant and productive, the person may understand that the process will not be as challenging and that there will be a lot of help along the way.

If there is no trusted team of professionals, then offer to be a part of any conversations with the estate planning attorney to make the introductory discussion easier. Share your own experience in estate planning, and tread lightly.

Trying to force a person to engage in estate planning with a heavy hand, almost always ends up in a stubborn refusal. A gentle approach will always be more successful. Explain how part of the estate plan includes planning for medical decisions while the person is living and is not just about distributing their assets. You should be firm, consistent and kind.

Explaining what their family members will need to go through if there is no will or  living trust, may or may not have an impact. Some people don’t care, and may simply shrug and say, “It’ll be their problem, not mine.” Consider what or who matters to the person. What if they could leave assets for a favorite grandchild to go to college? That might be more motivating.

One other thing to consider: if the person has an estate plan and it is out of date, that may be just as bad as not having an estate plan at all, especially when the person has been divorced and remarried. Just as many people refuse to have an estate plan, many people fail to update important documents, when they remarry. More than a few spouses come to estate planning attorney’s offices, when a loved one’s life insurance policy is going to their prior spouse. It’s too late to make any changes. A health care directive could also name a former brother-in-law to make important medical decisions. During a time of great duress, it is a bad time to learn that the formerly close in-law, who is now a sworn enemy, is the only one who can speak with doctors. Don’t procrastinate, if any of these issues are present.

My office is fully open to handle any questions or issues on estate planning. Please contact us to set up a consultation which can be done in person or virtually through Zoom. Or you can have your loved one go to my website and go to the link to watch a virtual estate planning seminar to get more information.

Reference: Kiplinger (May 11, 2020) “How to Get a Loved One to Visit an Estate Planning Attorney Before It’s Too Late”

 

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Should I Give My Kid the House Now or Leave It to Him in My Will or Trust?

Transferring your house to your children while you’re alive may avoid probate, the court process that otherwise follows death. However, gifting a home also can result in a big, unnecessary tax burden and put your house at risk, if your children are sued or file for bankruptcy.

Further, you also could be making a big mistake, if you hope it will help keep the house from being used for your nursing home bills.

MarketWatch’s recent article entitled “Why you shouldn’t give your house to your adult children” advises that there are better ways to transfer a house to your children, as well as a little-known potential fix that may help even if the giver has since passed away.

If you bequeath a house to your children so that they get it after your death, they get a “step-up in tax basis.” All the appreciation that occurred while the parent owned the house is never taxed. However, when a parent gives an adult child a house, it can be a tax nightmare for the recipient. For example, if the mother paid $16,000 for her home in 1976, and the current market value is $200,000, none of that gain would be taxable, if the son inherited the house.

Families who see this mistake in time can undo the damage, by gifting the house back to the parent.

Sometimes people transfer a home to try to qualify for Medicaid, the government program that pays health care and nursing home bills for the poor. However, any gifts or transfers made within five years of applying for the program can result in a penalty period, when seniors are disqualified from receiving benefits.

In addition, giving your home to someone else also can expose you to their financial problems. Their creditors could file liens on your home and, depending on state law, get some or most of its value. In a divorce, the house could become an asset that must be sold and divided in a property settlement.

However, Tax Code says that if the parent retains a “life interest” or “life estate” in the property, which includes the right to continue living there, the home would remain in her estate rather than be considered a completed gift.

There are specific rules for what qualifies as a life interest, including the power to determine what happens to the property and liability for its bills. To make certain, a child, as executor of his mother’s estate, could file a gift tax return on her behalf to show that he was given a “remainder interest,” or the right to inherit when his mother’s life interest expired at her death.

There are smarter ways to transfer a house. There are other ways around probate. Many states and DC permit “transfer on death” deeds that let people leave their homes to beneficiaries without having to go through probate. Another option is a living trust. Properly set up it will be creditor and divorce protected for the child instead of an outright transfer.

To find out more about what would be the appropriate strategy to use, contact my office to set up a consultation. We can do it in person or virtually through Zoom if you are more comfortable using that method.

Reference: MarketWatch (April 16, 2020) “Why you shouldn’t give your house to your adult children”

 

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