Estate planning

Getting the right documents in place will make it easier when you become unable to manage your affairs.

  • Most childless singles find friends and family to carry out their wishes.
  • A durable power of attorney gives someone you select the authority to manage your finances if you're unable to do so or you want help.
  • You'll need both a living will and health care proxy to explain your wishes in certain medical situations and make sure someone you know, and trust can make other medical decisions for you.
  • A medical information release permits doctors to share information with the people you've selected. Financial advisers and other financial professionals often have similar forms that will allow them to contact your doctor or a trusted friend when needed.
  • You can write a will on your own for about $70 using a do-it-yourself service. You'll also need to choose an executor, who will oversee the distribution of your estate.

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