What's Happening?
Maddy Roche, an estate planning expert, advises individuals without children to proactively plan for their future by establishing clear estate plans. This includes designating trusted friends or relatives
to make decisions on their behalf in case of incapacitation. The advice is particularly aimed at those who may not have immediate family to rely on, emphasizing the importance of having legal documents like powers of attorney and healthcare directives in place.
Why It's Important?
As the U.S. population ages, more individuals are choosing not to have children, making it crucial for them to plan for their future care and financial management. Without proper planning, these individuals risk having decisions made by the state or healthcare systems, which may not align with their personal wishes. This guidance is vital for ensuring that their preferences are respected and that they have a secure plan for their later years.
