“A well-constructed legacy plan should include a comprehensive approach for dealing with possible incapacity, which often involves a revocable living trust, general and health care powers of attorney, a living will, nomination of guardians of the person and estate, a HIPAA authorization, and disability and long-term care insurance.  Otherwise, an individual’s incapacity can result in prolonged court proceedings to appoint a guardian, emotional distress for the family, the loss of individual privacy, and serious expense.”

To read the full report, click here.