What are solo seniors?

Solo seniors are individuals from the baby boomer generation who have chosen not to marry or have families. As a result, they often find themselves without close family or friends to assist them in making important health and legal decisions.

Why is estate planning important for solo seniors?

Estate planning is crucial for solo seniors because they may lack family or friends to serve as legal agents if they become incapacitated. Planning ahead ensures that their financial and healthcare choices are honored and provides peace of mind.

How can solo seniors find a fiduciary?

Solo seniors can find a fiduciary by researching reputable professionals who specialize in fiduciary services. It is important to take the time to find the right person to handle their estate and healthcare decisions.

What steps should solo seniors take for estate planning?

Solo seniors should make estate decisions while healthy, document their healthcare wishes, and choose someone to carry out those wishes. This planning helps ensure their preferences are respected if they become unable to make decisions.

What challenges do solo seniors face in estate planning?

Solo seniors often face challenges such as the absence of close family or friends to act as agents, trustees, or executors. This lack of support can complicate their estate planning and make it essential to work with a professional fiduciary.

Out Of The Baby Boomer Generation Comes An Influx Of Solo Seniors

According to the U.S. Census Bureau, back in 2010, the oldest baby boomer had not turned 65. Yet, since the 2010 census, about 10,000 baby boomers a day have turned 65 years of age. By 2030 all boomers will be at least age 65.

As a generation that has broken through previous barriers posed by sex, race, marital status and more, many in this group of trend setters embraced lifestyles outside the norm. As a result, millions who chose not to marry and have families will be what is referred to as “solo seniors.”

Estate planning complexity exists for a solo senior. They often have no living family or friends who can serve as a legal agent for them if they become unable to make important health and legal decisions.

Of course, there will also be solo seniors who outlive their family and friends. Boomers are breaking the age barrier and outliving previous generations too!

Solo Seniors Should Seek The Services Of A Professional Fiduciary

No matter how someone becomes a solo senior, planning ahead is essential. Make estate decisions while you are healthy and able. Decide who will handle your financial and healthcare choices if you cannot.

You should also document how you want to be cared for if you become incapacitated. Naming someone to carry out those wishes provides clarity and peace of mind.

Solo seniors often lack close family or friends to serve as agents, trustees, or executors. In these cases, working with a reputable fiduciary is critical. While finding the right person may take time, it should not be delayed.

I’ve included a link to an article written by a solo senior. She shares the steps she took and the concerns she faced when choosing a fiduciary. It’s a valuable read, especially for those in a similar situation. The author does not live in Georgia, but her insights apply broadly.

Give it a read: https://www.nextavenue.org/solo-agers-find-a-fiduciary/

If you are a solo senior looking for a fiduciary to work with, give our offices a call.

Looking to find an experienced estate lawyer in the Georgia area who is skilled in asset protection and estate plan preparation? Shannon Pawley is an attorney in Georgia with expertise in estate planning and asset protection. Shannon can provide assistance with creating an estate plan to include making a will and how to establish a trust properly. If you have questions about asset protection or questions about making an estate plan, reach out to Shannon and she will be glad to help answer all the estate planning questions you might have!

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3 years ago

We had excellent service from Shannon and her team, they are true professionals and helped us and explained every step in the process. We highly recommend The Estate and Asset Protection Law Firm.

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3 years ago

My father and I recently used the estate, an asset protection, law, firm for new wheels, new, power of attorney’s, and a creation of a trust. Brooke and her entire team could not have been more helpful and more professional! We loved working with them, and they took everything seriously therefore I didn’t have to worry about a thing. I highly recommend everyone at the law firm.

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3 years ago

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3 years ago

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4 years ago

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4 years ago

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5 years ago

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5 years ago

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5 years ago

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