A ____ is designed to take effect only when the grantor is unable to manage his or her own financial affairs owing to incapacitation.

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A durable power of attorney is specifically designed for situations where the grantor becomes incapacitated and is no longer able to manage their own financial affairs. This document grants authority to an appointed agent to act on behalf of the grantor and make financial decisions for them. A letter of last instructions is a separate document that provides guidance to family members or executors after the grantor's death, and a trust is a legal arrangement where a trustee manages assets on behalf of beneficiaries. While a power of attorney can also be used to grant authority to an agent, it may not necessarily be durable and may only be effective for a specific period or purpose.

A ____ Is Designed to Take Effect Only When the Grantor