An alumnus of Fairleigh Dickinson University with a BS in accounting, Richard Belott is an accountant and financial advisor who owns and manages Belott & Company CPAs, LLC. Richard Belott provides his clients with a wide range of services, such as tax, retirement, and elder care planning.
Elder care planning ensures financial, medical, and other details related to elderly person’s well-being are in order before that person becomes mentally incapacitated. Mental incapacity is a state in which an individual’s cognitive faculties are compromised to the extent that they cannot comprehend the consequences of their actions or make informed decisions. This condition is legally defined as a point where a person becomes physically incapable of expressing their wishes, such as when they are unconscious or in a coma, or mentally unable to grasp the nature of their actions.
Various factors, including age-related cognitive decline and other medical conditions, can cause mental incapacity. It is a significant legal and ethical concern, as it necessitates a clear determination and plan to ensure the individual’s well-being.
Both medical and legal assessments may be necessary to determine that someone is mentally incapacitated. Typically, a qualified medical professional, such as a physician or psychiatrist, assesses the individual’s mental state by evaluating their cognitive functions, memory, decision-making abilities, and understanding of their actions. Concurrently, if the need for legal intervention arises, the court may step in. The court may use the medical assessment and other evidence to ascertain whether the individual is indeed mentally incapacitated and unable to manage their affairs. This dual evaluation ensures a thorough and objective determination of mental capacity.
Richard Belott 