How to Plan for the Future When You're on Your Own or without Family Nearby
Modern Family Finance is a fee-only financial planning firm based in the San Francisco Bay Area and Oakland providing tax-smart financial advice for modern families, delivered like a trusted friend.
Overview
In today’s episode, we’re diving into a critical question: What do you do when you don’t have children—or family nearby—to advocate for you as you age?
Whether you’re single, child-free, part of the LGBTQ+ community, or simply navigating complex family dynamics, this episode is for you. My guest is Mia Owsley, a licensed professional fiduciary and founder of Mia’s Fiduciary Services which serves the San Francisco Bay Area. Mia is a true advocate for those needing financial management, estate planning, and care coordination, ensuring that her clients wishes are honored, even when they cannot advocate for themselves.
Key Points
- What happens if you don’t have kids—or can’t rely on them-to manage your care or finances as you age?
- Is having a will enough to protect your wishes?
- How can a fiduciary help you care for your aging parents if you don’t live near them?
- How can a fiduciary help make decisions for you around your health and care if you’re unable to?
Excerpts from the Podcast:
Jenni: Welcome to the Modern Family Finance Podcast, where we talk about all things money, career, and life. I’m your host, Jenni, founder of Modern Family Finance—a San Francisco Bay Area-based, fee-only financial planning firm providing tax-smart advice to modern families.
In today’s episode, we’re diving into a critical question: What do you do when you don’t have children—or family nearby—to advocate for you as you age?
Whether you’re single, child-free, part of the LGBTQ+ community, or simply navigating complex family dynamics, this episode is for you. My guest is Mia Owsley, a licensed professional fiduciary and founder of Mia’s Fiduciary Services. Mia is a true advocate for those needing financial management, estate planning, and care coordination, ensuring that her clients wishes are honored, even when they cannot advocate for themselves.
What is a professional fiduciary, and what exactly do they do? (01:43)
Mia: I call us “professional sons and daughters.” We step in when people don’t have trusted family to help. That might mean paying bills, arranging medical care, coordinating home repairs, or stepping into a legal role like power of attorney or trustee. We’re licensed, trained, and monitored by the state to ensure people’s wishes are honored.
Who typically needs fiduciary services? (02:25)
Mia: Most of our clients are older adults with dementia or health issues. But we’re also hired by adult children who live far away and need help caring for their parents. Banks, estate attorneys, and even Adult Protective Services refer clients when they see someone can’t manage their affairs safely.
What does it really mean to “get your affairs in order”? (04:01)
Mia: It means planning in three big ways:
Who gets your assets – handled through a revocable trust to avoid probate.
How to protect vulnerable heirs – like kids with special needs or LGBTQ+ children.
What happens if you’re incapacitated – through powers of attorney and healthcare directives. Without this, the state may step in and assign someone you wouldn’t choose.
Can you change your mind about who you’ve appointed? (07:34)
Mia: Absolutely. Your plans can evolve. I’ve had clients name us now, and then switch to family years later. One client set up a flexible trust structure knowing she could make adjustments if her feelings about her heirs changed.
Can you share real-life examples of your work? (11:03)
Mia: Sure. I helped a 93-year-old woman with hidden debt and an old reverse mortgage sell her Berkeley home and move to independent living. She lived well until nearly 100—and passed with just enough to cover cremation. Another woman had outdated estate documents and nearly lost her home. We got her under conservatorship, stabilized her finances, and helped her move to memory care when the time came.
What about clients in their 40s and 50s helping aging parents? (11:22)
Mia: This is very common. They’re managing careers, kids, and geography. We become the local support team—handling day-to-day care, home maintenance, and medical advocacy, while keeping adult children in the loop through regular communication and detailed invoices.
How do you help with medical decisions? (12:55)
Mia: Advocacy is a huge part of our role. We talk to doctors, ask questions, and weigh options—especially if a proposed treatment isn’t in the client’s best interest. For LGBTQ+ clients, we make sure care providers respect their identity, their chosen family, and the life they’ve built.
How do you help someone deide between staying home and moving into care? (15:49)
Mia: It comes down to safety, money, and cognitive capacity. Home care can cost $40,000/month, while assisted living is closer to $10,000. We try to honor someone’s desire to age in place, but also help them face reality when it’s time to make a change.
What are the most common issues that arise after someone dies? (20:39)
Mia: Surprises. Kids who didn’t know the plan. Sibling rivalries. If you want peace later, talk to your family now. Don’t blindside them with your estate plan. We’ve seen families tear themselves apart over misunderstandings that could’ve been resolved with one honest conversation.
What’s the process of working with you like? (33:44)
Mia: We usually start with a setup process where we understand the client’s situation and goals. After that, we bill hourly, and our invoices include detailed notes—so families know exactly what we’re doing and why. You can contact us https://www.magicmia.net/.
Final Thoughts: (36:56)
Jenni: Whether you’re planning for yourself or your parents, you don’t have to do this alone. A professional fiduciary can fill the gap with care, competence, and compassion.