|
|
|
Jewish World Review May 23, 2005 / 14 Iyar, 5765 End-of-life plans for those without close relatives By Jan L. Warner & Jan Collins
http://www.JewishWorldReview.com |
Q: I'm 57, single and childless. I have little contact with my two
siblings who live on the other side of the country. I have six nieces
and nephews, none of whom I have seen or heard from in more than five
years, and I have some cousins out there somewhere.
I have a responsible job, decent retirement, and long-term care
insurance in case I need assisted care in the future. Here's my dilemma:
While I have a number of friends and associates, none is close enough
for me to share my last wishes about my health care, financial and
burial decisions. Ditto when it comes to family members. And, I don't
want to pass a windfall financial benefit on to relatives who neither
call nor write me.
Is there an organization out there to handle these types of concerns for
people like me who find themselves without concerned loved ones and
trusted friends to help plan for the end and all stops in between?
A: Unfortunately, there are no organizations that we know about that
will help you solve your dilemma.
You are not alone in your concerns. According to statistics, 24 percent
of Americans have never been married; 10 percent are divorced, and 13
percent are widows or widowers. Most unmarried/single individuals have
more difficult decisions to face when making retirement, health care,
estate, and burial plans because of a lack of trusted individuals to
appoint as fiduciaries should they become incapacitated.
If you were married and/or had children, there would be someone who
could take control, either by you appointing them through powers of
attorney, trusts, wills and health directives, or by court appointment.
Since unmarried folks don't have this luxury, a trip to a lawyer
knowledgeable in planning alternatives for people in your situation is
essential.
Generally, you will require a durable power of attorney for finances
(which will allow a fiduciary to pay your bills and handle your funds
should you become incapacitated); a durable health care power of
attorney (which will allow a fiduciary to make health decisions for you
should you become incapacitated); and a will (which will appoint a
fiduciary to distribute your probate assets upon your death as you desire).
Who should you appoint as your fiduciary? For financial purposes, you
may choose to appoint the same fiduciary to handle your funds upon
incapacity and death. If you choose the trust department of a bank, you
may get more personalized service from smaller banks than larger ones,
depending on your comfort level. Or you may want to talk to your
certified public accountant as more CPAs are taking on these duties. But
make sure not to include any gifting provisions in your power of
attorney, and limit how your assets will be invested.
Your health care proxy or agent will have to be an individual, and we
would suggest that you seek guidance from your attorney in making the
choice of the person who will enforce your decisions, not make them for
you. For this reason, you should be very specific about how you want to
be treated, and make sure the individual will follow your mandates.
The best way to resolve your burial is to purchase a pre-need funeral or
cremation service now and give full written instructions to the funeral
home.
While planning for the single individual takes more time and ingenuity,
it is not a lost cause. You simply need to find a lawyer with whom you
are comfortable who can help you design the plan to fit your wishes.
Every weekday JewishWorldReview.com publishes what many in in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.
JAN L. WARNER received his A.B. and J.D. degrees from the University of South Carolina and earned a Master of Legal Letters (L.L.M.) in Taxation from the Emory University School of Law in Atlanta, Georgia. He is a frequent lecturer at legal education and public information programs throughout the United States. His articles have been published in national and state legal publications. Jan Collins began co-authoring Flying SoloŽ in 1989. She has more than 27 years of experience as a journalist, writer, and editor. To comment or ask a question, please click here. © 2005, Jan Warner |
Arnold Ahlert | |||||||||||
