Single men and women should still develop a proper estate plan
Most Florida residents know that developing a solid estate plan is one way to ensure that their beneficiaries will be properly taken care of after they pass away. But estate planning is not just for those individuals who have spouses. Single men and women who don’t have either a spouse or children should still take advantage of the peace of mind that estate planning can provide.
One of the reasons that unmarried individuals should still work on their estate plan is that people, especially women, are living longer. This longer life span means that people need to identify the type of health care specifics that they want if they become incapacitated in the future. It is also important for the individual to identify how to pay for any future long term care. Developing a health care proxy is one way to help communicate these important needs to any relatives and the medical professionals who will be in charge of their care.
Other important documents that a single person needs to complete are a will and a durable power of attorney. If a person does not have either of these documents in place and they become incapacitated, then a court will usually appoint someone to act as their estate executor and/or guardian. That means that a total stranger can decide on the proper course of action to take for them. If a single person doesn’t have someone who they feel will act on their best behalf, they may want to consider speaking to their physician, clergymen or attorney and ask them about being their executor for these essential documents.
Being single shouldn’t stop anyone from having a good estate plan. Any Florida resident who is considering developing one may want to speak with an estate planning attorney in order to fully understand the options that best suit them.
Source: huffingtonpost.com, “Estate planning and the single girl,” Accessed Sep. 22, 2015