Skip to main content
Planning for Incapacity
January 19, 2019 at 9:00 AM

As we age, it becomes increasingly important to have back up plans in case we are not able to manage our own financial affairs. We recommend a General Durable Power of Attorney naming at least two agents, and preferably three; a "Trusted Contact" form or internal Power of Attorney form for the "big" brokerage accounts; and if possible a Revocable Living Trust to hold all assets in the event of incapacity. The Revocable Living Trust names a Trustee who is the owner of the assets; whereas a power of attorney names an agent over the assets. The Trustee is stronger and more protective in the event of incapacity. What is best for a particular individual or family is discussed in detail in our meetings.