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Estate Planning is usually focused on the traditional family – what to leave to a spouse, how to pass it along to children. But what if you don’t have any children? Well, you’re in good company – there are over a hundred million Americans who are currently single, almost half the adult population.
Single people are more in need of estate planning than the “traditional” nuclear family. Default laws are in place that are based on stereotypical families, and they may not work out too well for you. You see, estate planning is not just about your stuff, but also about you. Who would make decisions for you if you become incapacitated due to a serious injury or illness?
Without advanced planning, a probate judge will have to select a guardian or a conservator for you – and without prior appointment, the first person listed on the order of priority is the spouse that you don’t have. Doesn’t it make more sense for you to determine who should be making decisions for you?
Well, there are default laws for that too. Each State has their own laws for what happens to your property after you pass away, but typically the order of priority starts with the spouse and children. If you have any concerns about who should get what, you should plan ahead as to who your beneficiaries should be.
Avoid the impersonal one-size-fits-all state-written default law. Instead, we can design a plan together to fit your unique circumstances and objectives