Estate Planning Pitfall – You haven’t planned for incapacity

Description

Abstract: Most estate plans focus on what happens after death — but a plan is incomplete if arrangements haven’t been made in the event of mental incapacity. If the plan doesn’t specify how these decisions will be made, and by whom, a court-appointed guardian will have to intervene. But this article describes several tools that are available to ensure that a person designated by the plan owner will handle affairs if the owner becomes incapacitated.