Aging independently offers freedom and control over your life, but without proper planning, it can also leave you vulnerable. Many solo agers rely on close friends, extended family, or professionals for support, but these informal arrangements aren’t legally recognized unless they’re documented. A recent article in The National Law Journal highlights the importance of estate planning for solo agers to ensure their healthcare, finances, and assets are handled according to their wishes.
Without a spouse or immediate family to step in, solo agers must take extra precautions to ensure their affairs are in order. A well-structured estate plan not only protects you during your lifetime but also ensures your assets are distributed according to your preferences after you pass.
It’s essential to designate a trusted individual as your Healthcare Proxy to make medical decisions on your behalf if you become incapacitated. This person should be comfortable in this role and willing to follow your instructions, even if they personally disagree with them. Key documents to have in place include:
A Durable Power of Attorney (POA) allows a designated person to handle your financial and legal affairs if you become incapacitated. It’s advisable to name both a primary and a backup agent, ensuring someone will always be available to manage your finances. Consider selecting a younger, trustworthy individual who is more likely to be available when needed.
Statistics show that nearly 70% of people aged 65 and older will require long-term care at some point. To prepare for potential healthcare expenses, consider:
A will is essential for directing the distribution of your assets. Without one, state laws determine who inherits your property, which may result in distant relatives—rather than close friends or chosen beneficiaries—receiving your estate. A will also allows you to:
In today’s digital age, estate planning should extend beyond physical assets. Create a digital estate plan to address:
Estate planning isn’t just about protecting your assets—it’s about ensuring your wishes are honored and your well-being is safeguarded. For solo agers, having the right legal documents in place provides peace of mind and prevents unnecessary complications.
At The Werner Law Firm, our experienced estate planning attorneys are dedicated to helping individuals create comprehensive estate plans that reflect their needs and values. Whether you need to establish powers of attorney, draft a will, or set up long-term care arrangements, we’re here to guide you every step of the way.
If you have any questions, schedule a free appointment with us through our online appointment page.
You can also read reviews from some of the hundreds of clients we have helped over the years.
Reference: The National Law Journal (Jan. 10, 2025) “Solo Aging: Planning for Your Best Life”
Founded in 1975 by L. Rob Werner, The Werner Law Firm and our dedicated attorneys are available for clients, friends, and family members to receive the legal help they need and deserve. You can trust in our experience and reputation to help navigate you through your unique legal matters.
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If you’re looking into taking care of your estate planning, we urge you to schedule a free initial appointment today and join the many satisfied clients who have contacted Werner Law Firm.
