A Plan for Incompetency

As the Baby Boomer generation is growing older, they are faced with more complex legal issues. One issue that is becoming more common arises when dementia or similar diseases such as Alzheimer’s strikes a spouse. If a spouse becomes mentally incompetent before executing a Trust or Durable Power of Attorney, the only way to dispose of real property is through a guardianship proceeding, which can be costly and subject the parties to judicial scrutiny. It is important to plan for the future and such contingencies when the parties are mentally healthy and of sound mind. By properly planning and executing certain documents, you can make sure that if you ever become mentally incapacitated that your spouse or loved ones will not have to worry with a legal nightmare.