The idea of living single is something that many Georgia residents find appealing. They may not see any need in getting married or are simply content with living their lives to the fullest until the right person comes along. While being single can certainly allow individuals to have great control over their lives, there may come a time when such parties cannot make decisions for themselves. As a result, having an estate plan, even as a single person, is wise.
Unfortunately, many single people believe that they do not need to start estate planning because they do not have a spouse to leave their assets to. However, there are plenty of other details involved with creating an estate plan that do not just address assets. For instance, many planning tools could help people put their wishes in order for medical care or finance management in the event that they cannot make their wishes known themselves at a particular time.
Some ways that estate planning could benefit single people include the following:
- Having a financial power of attorney document that appoints a trusted individual to make financial decisions on the person’s behalf if necessary
- Having a health care power of attorney to appoint a trusted person to make medical decisions on the person’s behalf
- Creating HIPAA release forms that can ensure loved ones can access medical information or even visit the person in the event of incapacitation
- Making long-term care plans to better ensure that the person will receive the desired care since he or she does not have a spouse to provide that care
An estate plan can address these and many other important life matters for married or single Georgia residents. If unmarried individuals believe that they may need to get started on their plans, gaining additional information on their planning options may be useful. Plus, they could gain reliable insight from estate planning attorneys who could help address possibly unthought-of details.