When It’s Time to Transfer Financial Decision-Making
For individual investors who pay close attention to their financial affairs, planning for a time when they can no longer make sound decisions may seem like a remote possibility and an unnecessary step. However, these same investors may have the most to lose if they fail to properly plan for this possibility. As time marches on, illness can result in the inability to make important financial decisions, cognitive impairment can mean loss of sound judgment and a sudden stroke could mean a complete loss of capacity to make decisions.
Johnson, Robert and Littell, David, "When It’s Time to Transfer Financial Decision-Making" (2015). Faculty Publications. 248.