Four Points on Client Incapacity

Incapacity of a client is an issue that estate planners often face in their career. Here are four things to keep in mind when assisting a client that may have or develop a mental incapacity:

1. Incapacity is on a sliding scale and not an all-or-nothing situation
2. This is a frequently occurring situation with 5.4 million people currently suffering from dementia
3. Client incapacity brings serious risks and issues to the advisor, including possible lawsuits
4. It is important to watch for sudden changes, especially in important documents

See Steven Podnos, Dealing with Client Incapacity, Wealth Management, June 2, 2014.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.