Two Considerations for Single Retirees and Their Estate Plans
Virtually everyone would like to enjoy a retirement that is spent with that special someone by
their side, taking in the beautiful sights of this world. Unfortunately, more and more people are
entering their retirement alone. Divorce, the death of a spouse, or just never having married are
all contributing causes for these solitary retirements, but the effect of such a retirement is not
always reflected in a person’s estate plan. There are special considerations that must be taken
into account when you are a single retiree.
According to the AARP, of the current retirees over 65, only 26% of women are receiving a
pension versus 44% of the men, so women need to be especially sensitive to how they handle
their finances. Regardless of sex, if you have not yet met with a financial planner, you should do
so immediately. He or she can help you determine how much you will need to have saved to live
as you desire, determine the current value of your assets, as well as how much you need to save
to meet your goal; additionally, he or she can help you create a budget with your goals in mind.
A single retiree must have some advance directives in place. If something happens to you, having
a living will – a legal document that dictates what treatments you are willing to undergo if you
are unable to say so yourself – provides doctors with guidance about how to proceed with your
Experienced estate planning attorneys Greensboro NC of the Law Offices of Cheryl David offers
estate planning and business planning resources to residents of Greensboro NC. To learn more
about these free resources, please visit http://www.cheryldavid.com today.