In our last post, we began looking at the issue of mental incapacity, and the importance of taking appropriate steps to address this issue in estate planning. Failure to do so opens up a greater possibility of probate disputes down the road, and can complicate the process a great deal, depending on the circumstances.
Mental incapacity and its potential impact on your estate, P.1
Memory and cognitive functioning constitute a significant aspect personal identity, and it is difficult to watch a loved one become increasingly affected by Alzheimer’s disease, dementia, and other conditions diminish these areas of their life. Such conditions can impact not only everyday tasks and personal relationships, of course, but also potentially the individual’s ability to manage their estate in their later years.
