Is Estate Planning Necessary For Single People With No Children?

Some unmarried people, particularly those who don’t have children, may think a Last Will and Testament is unnecessary. They may assume the primary purpose of these documents is to ensure that dependents are cared for. Without such concerns, the documents may seem pointless. However, an attorney near you working in estate law couldn’t disagree more.

Kids Or Not, Estate Planning Matters

Estate planning is essential if you own anything, whether it’s a house or a bank account. Planning your estate is an important thing you can do for yourself, whether there are kids or a spouse in the equation.

Professionals in estate law use the term intestate to refer to a person who dies (i.e., decedent) without a Last Will and Testament. When this happens, the state dictates what happens to all assets, not the loved ones you leave behind. Unfortunately, how the state distributes these assets doesn’t always align with a decedent’s personal beliefs or intentions.

Estate Planning Without Children

Even if you don’t have many personal possessions, it helps to have a document explaining your wishes for their use or disbursement after you’re gone. Your monetary gifts could also benefit your favorite charities or loved ones.

Another important aspect of estate planning is designating a Power of Attorney. In case you lose the capacity to make decisions for yourself, such as from a debilitating car accident, you should have a person you know and trust named to handle your financial affairs.

A Living Will and Healthcare Power of Attorney outline your advance directives and are also part of your estate planning. Such documents let you determine what kind of medical care you would or would not wish to receive should you become grievously injured or are unable to make healthcare decisions for yourself. For example, if you don’t want to be put on artificial life support or want a “do not resuscitate” (DNR) order on your medical chart, you should specify this in a living Will.

An Estate Attorney Who Advocates for Single Individuals

Estate planning is a necessity for everyone, regardless of marital or family status. If you own any property or want those closest to you to respect your medical wishes, getting representation from an attorney in estate planning is an essential step toward your future. The professionals with Donnellon, Donnellon & Miller work with many clients who aren’t married or don’t have children. They understand that everyone deserves the protection a comprehensive estate plan can provide.