As we celebrate International Friendship Month, it's a perfect time to reflect on the importance of strong support systems and meaningful connections in our lives. As we age, our support systems might shrink for various reasons. As time passes, some of us with smaller families might have a harder time finding support. In Elder Law, the absence of immediate family members and social networks can pose unique challenges, especially when it comes to estate planning and/or navigating the Medicaid application process.
Understanding Adult Orphans
Many of our clients utilize the help of a younger family member who can more easily navigate emails, online bank statements, and sometimes even driving. In the context of Elder Law, "adult orphans" are individuals who don't have living family members such as parents, siblings, or children who could help support them throughout the Estate Planning and Medicaid processes. We’ve seen many plans made with the support of nieces or nephews, family friends, and even financial planners, but we’ve also seen plans where folks simply don’t know who to name as their agent.
Challenges in Estate Planning and Medicaid Applications
Without close family members to act as advocates or decision-makers, some adults may face difficulties in estate planning and navigating the Medicaid application process in Texas. These challenges can include:
- Who should I name to make medical decisions on my behalf? An agent named in a Medical Power of Attorney document should be someone who not only knows your medical wishes, but also will likely out-live you. Typically, this is one’s adult child, but in the case of adult orphans, it is important to consider which friends will fit this criteria.
- Who can I list as my financial power of attorney? Managing finances can be challenging without a trusted individual to handle financial matters or make decisions in your best interest. If you already have someone on your account, or who helps you manage your finances, maybe now is the time to formalize that help with a Durable Power of Attorney document. We have worked with financial planners named as agents on the Durable Power of Attorney, but please note that if you are approved for Medicaid, your agent will need to assist in the Medicaid Renewal Application every year.
- Who can look after me if I don’t have any family? Adult orphans may lack a built-in support network to provide care, assistance, or advocacy, especially as they age or face health-related challenges. It’s important to have someone you can call if you need support. This can be someone from church, a trusted neighbor, or a dear friend. Feel empowered to cast a wider net, there are many community centers, civic organizations, and groups catering to your demographic.
Who can I appoint in my Estate Planning documents?
Given these challenges, it's crucial for adult orphans to carefully consider who they appoint as agents in their estate planning documents. While immediate family members are often the default choice for many people, adult orphans may need to look beyond traditional family structures and consider other individuals who could serve as reliable agents. These might include:
- Close Friends: Trusted friends who have a deep understanding of their values and preferences can make excellent agents for health care and financial matters.
- Professional Advisors: Legal or financial professionals can also serve as agents, providing expertise and objectivity in managing their affairs.
- Community Organizations: Some adult orphans may have strong connections to community organizations or religious institutions where they can find support and potential agents in their church, support groups, or volunteer organizations.
Conclusion
As we celebrate International Friendship Month, let's remember that friendships can be just as important as family, especially for those who may not have traditional family structures. For adult orphans in Texas, thoughtful estate planning and careful consideration of agent selections can help ensure that their wishes are respected, their affairs are managed effectively, and they have the support they need as they navigate life's challenges.
Comments