Volume 2, Issue 1
January 2026
Designing a Plan for Singles
When it comes to estate planning, most of us think about families with children. But what happens if you are single or don't have children? Or, what if you suddenly find yourself single after losing a spouse?
For those in this situation, Planning With Purpose is even more essential. Without clear direction, decisions can become complicated, leaving loved ones with uncertainty—or worse, leaving your care and estate in disarray.
The Executor Question: Who Will Step In?
One of the biggest challenges for singles is choosing the right executor or financial power of attorney.
- Trustworthiness matters. You need someone who will act with integrity.
- Skillset counts. Managing an estate means handling finances, bills, and sometimes large sums of money. This is not just for death, but more critically, should you have a health crisis and need assistance.
- Lifestyle considerations. Many friends are the same age as you—meaning they may be facing their own health or aging issues.
Some singles turn to siblings, nieces, or nephews. But younger family members are often juggling careers, children, and financial pressures. Can they realistically take on such a demanding role?
If family or friends aren't the right fit, another option is to hire a professional fiduciary—a company or law firm that can manage your estate with both legal and financial expertise. While there is a cost, it ensures that your affairs are handled properly.
The Problem with Outdated Documents
Another pitfall for singles is relying on estate plans that are too old.
Many people assume that a will or trust they drafted 10–20 years ago will still operate smoothly. But most financial institutions hesitate to accept power of attorneys that are more than three to five years older.
Outdated documents leave loved ones scrambling—and can create the very mess you wanted to avoid. Outdated options, legal language, and named representatives leave insecurity for those deciding to assist.
Updating your estate plan regularly, just as you change the oil in your car, keeps them running smoothly and gives confidence to those helping you.
Legal Powers to Consider
A well-crafted estate plan for singles should carefully outline which powers your chosen agent does and does not have. Some important considerations include:
- Financial decisions: Managing investments, paying bills, closing accounts.
- Business ownership: If you own a business, who has the authority to run it? Who are you key players to ensure the ongoing success of your business?
- Gifting & charitable giving: Should your ongoing commitments continue if you are incapacitated?
- Life insurance & retirement accounts: Should anyone have the power to change beneficiaries?
Without clear limits, state law could unintentionally grant powers you never intended. This is why working with a qualified estate attorney is critical.
Practical Tips for Singles
✔ Have honest conversations with the people you are considering as executors or agents. Get their buy-in ahead of time.
✔ Consider setting up automatic payments directly with utilities and institutions. This reduces confusion and helps others manage your finances if needed.
✔ Explore professional fiduciary services if you don't have trusted family nearby.
✔ Keep your documents current—review them every three to five years.
Why This Matters
Planning With Purpose is not just about protecting wealth—it's about easing burdens for those who will one day need to help you. Whether you are single, childless, or part of a couple without children, the key is clarity and preparation.
Resources & Next Steps
Visit legacyandfaith.com for:
• Past podcasts of The Legacy & Faith Show
• Upcoming educational events
Call our Office at 425-939-9948 to:
• Inquire about how to enter our Legacy Maintenance Program
Disclaimer: This newsletter is for general educational purposes only and does not constitute legal advice. For personal guidance, please consult an estate planning attorney.