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Lack of children may lead to unique long-term care plans

When planning for the future it is likely that many residents of Rochester, New York, spend a lot of time thinking about how their choices will impact a spouse and children. Of course there are many people who are unmarried and childless who create estate plans. Though their considerations may be different they are no less important.

One of the most important things that people of a certain age must think about is long-term care. Because individuals who do not have children often do not have someone from a younger generation to fall back on, it is that much more important to make sure there is a care plan in place. This may be true even in situations where someone has children but their relationship is not one in which the younger generation is equipped to help provide care or make decisions regarding the issue.

In creating a plan for the future many individuals who do not want to end up in a nursing home but do not have family to support them, think outside of the box. Some have turned to friends and named them as power of attorney or executor of their will. In other situations friends may decide to create their own support systems by moving in together.

However someone goes about achieving their estate planning goals, the most important thing is to articulate them in writing. An estate planning attorney is a good resource not only when it comes to long-term care issues, but how one wants to disburse assets as well.

Source: The New York Times, “The Childless Plan for Their Fading Days,” Abby Ellin, Feb. 14, 2014

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Weinstein & Randisi
290 Linden Oaks, Ste. 200
Rochester, NY 14625

Toll Free: 800-768-1780
Phone: 585-310-1578
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