Your client has asked you to advise her on the advantages and disadvantages of trying to plan for her possible future incompetency versus doing nothing.

Which of the following statements is/are correct concerning an advantage or disadvantage of planning for incompetency?

An advantage is that no public hearing will have to be held to determine if your client is incompetent in some way

A disadvantage is that planning for incompetency requires a greater up-front cost

A disadvantage is that planning for incompetency permits less flexibility to the guardian or conservator

A disadvantage is that a third party might be more willing to deal with a court-appointed fiduciary than with one appointed by the incompetent person

IV only

I and II only

III and IV only

I, II, and IV only