posted by Eric Schutzbank
Being single doesn’t mean you do not need an estate plan. Single people need to be taken care of if they become incapacitated and also want to have a say in how their property is distributed after their death. Single people often have unique considerations when planning for the future. Married couples most often have their spouses act as their fiduciary in the event of incapacitation or death. Older couples with adult children general have their children designated to make decisions when they or their spouse can no longer do so. Single people without children need to involve friends or other relatives in their medical emergency and end of life arrangements. You do not want to find yourself in a situation where the Commonwealth has to appoint a stranger to make decisions for you.
Documents used to convey what should take place if a single person becomes incapacitated can include a durable power of attorney, a health care proxy or other advance care directive and/or an authorization under HIPPA rules. Employing one or more of these documents will authorize your agent to make medical and financial decisions on your behalf in the event you are not able. [Read more…]