Tony wants to avoid both public proceedings and the need to determine the status of the principal when planning for incapacity planning. What is his best option for what he wants?

Question

Quizplus · Accepted Answer

For individuals wanting to avoid both public proceeding and the need to determine the status of the principal when planning for incapacity planning, durable power of attorney is the best option. Additionally, a durable power of attorney avoid various legal expenses and delays inasmuch as court appointment of a fiduciary is unnecessary, it is relatively uncomplicated and inexpensive to create and is easy for the principal and agent to understand, and title to the assets remains with the principal.

Tony Wants to Avoid Both Public Proceedings and the Need