Whether you had a successful career or were taken care of by a spouse, death and/or divorce can leave us single at any time. Also, some women stay single by choice. Regardless of the reason, elderly women should think in terms of Estate Planning and elder planning needs as they age. The monetary funding of a person’s future needs, and how a lifetime of property will be distributed, need to be planned for. Additionally, the ability to make decisions may diminish in later life.
For single, elderly women, a basic Estate Plan consists of a Will, Power of Attorney and a Living Will.
WillA Will is a legal document that contains your instructions as to who you want your property given away to after your death. Even if you are single, aren’t rich and don’t have children, you still need a Will to spell out your wishes in case you die. Without a Will, you are considered “intestate,” which means that the government will decide who inherits your property.
Power of AttorneyIf you become incapacitated you may lose the ability to decide your own medical treatments. If you haven’t formulated any instructions, no one will truly know what you want. A power of attorney enables you to name a person to make decisions for you in the event you can’t. This person would serve as your proxy in the decisions about your medical care or financial affairs. This is especially important if you are young because you want your loved ones to know who you would select to make these decisions for you to avoid what could be a costly court battle between family members.
Living WillsA living will provides your health care providers with specific instructions from you about what your wishes are if your medical condition is terminal but you cannot communicate. This removes difficult decisions from your family. Every young couple should prepare a living will and power of attorney before it becomes too late for them and their family.
We use a Team ApproachOur Estate Planning Group of attorneys bring specific skills to assist in a team approach with your Estate Planning needs. Put our Estate Planning Group of attorneys to work to complete your Will, Power of Attorney and Living Will.
State-Wide PracticeWe create customized Estate Plans across Idaho. We can help you and your family too.
Get the Help You NeedCall us toll free at 877.232.6101 or 208.232.6101 for a consultation with our team of attorneys in Idaho. You can also email us directly at racine@racinelaw.net. We will answer your Idaho Estate Planning questions.
Estate Planning QuestionnaireClick Here to access our questionnaire that you can print off and fill out before coming in.