ESTATE PLANNING STILL IMPORTANT FOR ADULTS WITHOUT CHILDREN
Feb. 13, 2019
Whether Florida residents did not have children by choice or because of the cards life handed them, they likely still have led fulfilling lives so far. However, individuals who do not have kids may wonder whether they should bother with estate planning. They may not think the process is necessary because they do not need to appoint guardians or ensure that assets are protected for their kids, but estate plans can involve much more than just those topics.
An important reason that any adult could benefit from an estate plan is that anyone could become incapacitated. Estate plans can include documents related to health care wishes and documents appointing the appropriate parties to be in charge of important decisions. If a person becomes incapacitated and has not taken the time to create these documents, close loved ones may have to petition the court for guardianship or conservatorship, which can be difficult and emotionally trying.
Even if individuals did not have children, they may have pets that they considered their fur babies. Estate planning can help address who should care for these pets in the event of a person's incapacitation or passing. Interested parties could even set up pet trusts that contain funds specifically for the use of the pets' care.
Every person is not destined to become a parent, but that does not mean that people without children should skip estate planning. These plans can address very specific parts of Florida residents' lives, and without them, loved ones may be placed in difficult situations when important decisions need to be made. Interested parties may want to discuss their planning options with knowledgeable attorneys who could further explain the benefits of these plans for people without children.