New Delhi, Sept. 14 -- Most people make plans for what happens to their money after death, but few consider what happens if they are alive yet unable to manage their finances. An accident, illness or other incapacity could leave someone unable to make important decisions about their bank accounts, investments and insurance.

You could have enough savings to pay for the treatment and household expenses of yourself and your dependents, but that money may not be of much help if nobody knows where it is and how to access it.

Therefore, planning ahead can ensure that someone you trust can manage your finances if you are unable to make decisions yourself.

A common issue many family members face after their loved one's death or incapacitation,...