Every family dynamic is different and unique. Some people have several children, while others opt to foster or adopt. Having children is not a priority for everyone, and in some cases, it simply isn’t possible.
Estate planning documents tend to be flexible to represent all of these possibilities. You may not have children, but that doesn’t mean there are not people or organizations who you want to benefit from your assets, should you become incapacitated.
A charity that is close to your heart
You worked hard for many years and have managed to obtain a decent amount of savings. An important aspect of your life has been giving back to the community, and you’ve spent years volunteering for a charity that you hold dear. What better way to help than to allocate some of your assets when you pass away? With the appropriate advice and estate planning tools, you can leave a charitable legacy behind and ensure that your pursuit to help others continues long after you have gone.
Special people in your life
You don’t have children, but you have nieces and nephews who you love as if they were your own. They spent many of their summers with you and told you about their ambitions of going to college and becoming a lawyer, doctor or other notable professions. You can help these dreams turn into a reality by including your young relatives in your estate plan. Some of your assets can cover their educational fees and ensure that they always have enough to live on.
Whether or not you have children, estate planning is something you want to consider. By taking the appropriate legal steps, you can offer others security for years to come.