Should I have an incapacity plan? What does that entail?
I'm in my seventies and my neighbor mentioned something about his incapacity plan and I'm wondering if I should have one too.
Absolutely. You need to think about what would happen if you cannot make decisions for yourself. Go to a good estate planning attorney and get a living will, power of attorney, perhaps a trust, etc. In addition, make sure your trusted person in your life has all your online passwords, copies of valuable documents, etc. I had this situation with my father and had to take control of his finances when he was unable to do it himself. His assets were in a trust and I was his power of attorney, so it was pretty smooth. But only because he planned ahead. | 08.28.13 @ 23:07