3 Reasons Why Estate Planning Is Necessary Even If You Have No Children

If you don’t have any children, you may think that it’s not as important to make a plan for your estate. However, estate planning is important even for couples without children. Here are a few reasons why you should get in touch with an estate planning attorney right away and not push it off.

Designate Power of Attorney

It’s important to give someone you trust your power of attorney. Do this for both your financial and medical needs; it does not have to be the same person for both. Doing this will ensure that if you are incapacitated and unable to make medical or financial decisions for yourself, someone you know and trust will be able to make and carry out the right decisions for your healthcare needs and financial assets.

Designate Beneficiaries

Who will get your assets when you pass away? You may want to give them away to friends, extended relatives, or charity.  If you don’t write a Will, the court will be the one who ends up deciding what to do with your assets, and many times the extended family will fight over how best to divide your assets.

Include Your Partner

Writing a Will is especially important if you are not legally married but have a relationship with a significant person whom you would like to benefit under your Will.  If there is no legal relationship, then they won’t get access to your assets unless you include them in your will. They may not even be able to visit you in the hospital if you are incapacitated. There are many ways to include someone with whom you have a significant relationship in your estate.  A professional estate planning lawyer will be able to examine your situation and help you out.

Contact us today for all of your estate planning needs.