Estate Planning for Singles

A common misconception is that estate planning is only for families, which is not true. If you are single, estate planning is necessary. It allows you to dictate and control who will be in charge of your healthcare and finances, should you end up disabled.

Additionally, not having a well-coordinated estate plan in place can create significant problems for your family members. If you are single and don’t have a will in place, your estate becomes intestate, which means that the state will distribute your possessions, which typically go to close relatives, such as children, parents or siblings. Unfortunately, if you have no living relatives, your assets may go to the state.

To avoid having a court-appointed representative make financial, medical and estate decisions for you, it is vital that you have an estate plan in place. Jeffrey B. Bock will work with you to counsel and offer guidance so you can have a comprehensive estate plan in place, should you become incapacitated or pass away.

What are Common Estate Planning Concerns for Single People? 

  • Will - A will or testament allows you to designate a personal representative that you trust, providing them with instructions on how to distribute your estate after your death. In your will, you will designate who can or cannot receive your assets. As a single person, your assets may include your house, car, instructions on how to care for your pets or how to distribute any investments you own.
  • Retirement Plans - Many single people have well-funded retirement plans. If your beneficiaries are underage, cannot manage money or have special needs, you may need to consider setting up a special trust. The trustee you appoint in charge of your trust can protect the assets while beneficiaries are still minors and will use their discretion regarding allotting distributions. 
  • Financial Power of Attorney - Consider if you are the victim of a devastating accident, a stroke or are incapacitated and not capable of making your own decisions or paying your bills, who will do this for you? Do you want a court-appointed guardian selling your belongings and in charge of making financial decisions on your behalf? A financial power of attorney gives someone you trust the legal, financial authority to pay bills on your behalf and make financial decisions, such as selling your home to help pay necessary medical expenses.

Healthcare Power of Attorney, Healthcare Directive or Living Will

Most people do not want a stranger or a judge making medical decisions on their behalf, which is why a healthcare power of attorney is essential. This legal document allows you to designate an agent or representative to make medical decisions on your behalf if you are unable to do so.

As an experienced attorney, Jeffrey B. Bock can help understand your individual circumstances, creating a targeted, effective estate plan that meets your personalized needs.

Contact Us to Discuss Your Estate Plan

To find out if a estate planning is right for you, please call 281-962-8529 in Texas or 561-392-8788 in Florida or request an initial confidential consultation online. During your initial consultation, Jeff will meet with you, discuss your needs and determine what estate planning documents you need. Jeff has advanced estate planning experience and can help answer all your questions so you can make informed decisions about your estate.

Schedule Your Appointment