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Originally Posted by Bizdoc
Very interesting. Thanks for posting it. Can you give me the source as I'd like to read it.
We came to the same realization quite some time ago. Our solution? I have a former student (who has become a trusted friend) who is and will be our "manager". She has financial and medical powers of attorney. And (most importantly) is 20 years younger.
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We are in that situation as we have no children. We worked at a university and became attached to several graduate students. One got his MS and then his JD, so he did our wills; the other got his PhD and became our power of attorney and inherits most of whatever we have. Both willingly did it, not expecting any personal gains. We see them fairly often and love them as if they were ours.