You completed your estate planning, signing a will, and maybe even a trust. At the same time you signed a durable financial power of attorney, and a health care power of attorney. You planned for the possibility that you become incapacitated or die. But what happens about agents who become incapable of handling your affairs for you?
The agents you named in your powers of attorney are extraordinarily important. In fact, we have previously observed that those powers of attorney are probably the most important documents in your estate plan. Your chosen agents have your life and future and their hands — both literally and figuratively.
In this podcast episode, we discuss the importance of powers of attorney and what to do about agents who become incapable of completing their duties. That might be because of their own incapacity or death — or simply because they are unavailable or unwilling to act.
Concerned about the possibility of your agents becoming incapable of acting? Start by looking at your existing documents. They might tell you what happens next. Then join us for a discussion about how the succession actually works.