That assumes you are still capable to follow that process. Apparently the current procedure does not take your present circumstances into account. (like mild dementia, alzeihmer, nursing home example in the article)

In Europe, once you get too incapacitated to take care of your stuff, social security take you in charge. After you die, they repossess your property and sell them to recover their cost. What's left is then given to whoever is supposed to inherit. I am not quite sure what would be acceptable with the more liberal US culture, but profiteering of the weak is certainly not an american value.