It is not easy to make decisions for the future, especially if a person is young, healthy and unmarried. Single adults often overlook the need to have a strong estate plan in place because they feel that it is not necessary. However, through trusts, wills and other types of documents, they can secure their own interests and the interests of their beneficiaries in case of a serious medical situation or unexpected death.
One thing a single Florida adult can do for his or her estate planning needs is to consider establishing a revocable trust. Through this estate planning tool, a person can set aside, manage and control assets during his or her lifetime. A person can decide who is a beneficiary of the trust, such as a significant other, family members, charitable organizations and much more.
In addition to drafting a trust, a single adult can also benefit from drafting a will. Wills are basic estate planning tools that allow a person to decide what will happen to his or her money, assets and other things after death. Every person, regardless of age or income level, would be wise to have a health care power of attorney and name a health care proxy, both of which can help in case of a medical contingency.
Estate planning is an important and smart step for single adults, even if it seems they do not need to plan for the future at the time. Through trusts, wills and other protections, a person can have security and control during and after his or her lifetime. If a reader does not have an estate plan, it may be beneficial to discuss this need with a Florida attorney who can help a person take the appropriate course of action.