Articles Tagged with Pets

11.27.19Estate planning is even more important for individuals and couples without children. Without an estate plan, your assets may go to long-lost relatives you’ve never met. You also need to plan for incapacity, especially if there are no living relatives.

While your legacy may be different if you don’t have children, you still need to have an estate plan.

Motley Fool’s article, “5 Estate-Planning Tips for Child-Free Couples,” suggests that you may want to leave some of your money to friends, family members, charitable organizations, or your college. No matter the beneficiaries you choose, these estate planning tips are vital for childless couples.

8.5.19A will serves several purposes. It gives you the power to distribute your possessions, according to your own wishes. It also lets you name who should take care of your children, if they are minors when you die, and of your pets, if you provide for them in the will.

Just because your wealth isn’t measured in billions, doesn’t mean you don’t need a will. Without one, explains Yahoo Finance’s recent article, “Do You Really Need a Will?” you’ll have no say in what happens once you pass away. There may also be less for your heirs to inherit. There will also be more legal costs and stress.

Each state has laws that pertain to the distribution of a person's estate, if they die without a will. These laws most likely won’t mesh with your personal desires. If you don't have a will, ask yourself why you don't. Perhaps you think you don't need one. However, more than likely you do. If you're putting off starting this important estate planning task, here are some things to consider.

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