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McCurrie McCurrie
& McCurrie, L.L.C.

680 Kearny Avenue
Kearny, NJ 07032-3010
Phone: (201) 467-4180
Fax: (201) 997-9567
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Estate Planning - Still Essential, Even If You Don't Have Children

Estate planning is an extremely important, yet extremely underutilized option for individuals across the United States. While the estate planning process is not overly complicated for most and can easily be worked through with the help of an attorney, the idea that it is complicated and time-consuming persists. For seniors, especially, it is important to start planning for advanced care and the settling of estate matters.

What if you do not have children?

Even for seniors without children, making an estate plan is very important. Perhaps the most immediate need is for a health care agent, someone to make healthcare decisions for you should you lose the ability to make them for yourself. A health care agent could be a relative, close friend or even a coworker. The important thing is that you find someone you trust completely to make decisions based on your best interests.

It is also important to designate a geriatric care manager, someone who will care for you as you grow older. It is ideal to have these arrangements made far ahead of time, avoiding the need to find someone immediately and, possibly, missing the opportunity to screen effectively.

Lastly, you will need someone you trust to serve as your financial agent. This person will have control over your assets and the power to make decisions regarding them, so it is extremely important that this is someone you trust absolutely. To designate your financial agent, you must sign a power of attorney document.

After this, the person you have designated will have the ability to make bank deposits and withdrawals on your behalf, as well as conduct other affairs such as real estate buying and selling. In addition to being someone you trust, your financial agent should be well-versed in financial matters and asset management.

Related Resource

  • Estate Planning for Childless Seniors (FavStocks)

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