Single Estate Planning with Children
Commonly, estate planning is associated with multi-generational, large, traditional families; but estate planning for singles, or those in non-traditional partnerships is just as important, if not more so.
In 2017, the U.S.Census reported that over 45% of American adults are single.
Estate planning is just as important for you as it is for your married counterparts!
Should I name my minor children as a beneficiary?
We will be happy to discuss better strategies for your life insurance policies and other assets you may wish to pass to your minor (eventually adult) children.
If I have full custody of my child and have nominated a Guardian, and something happens to me, will the other parent or the Guardian I nominated gain custody?
If the other parent is fit, the court will likely award custody to the other parent over your nomination.
Estate planning resources for single parents
If you’ve recently been through a divorce, you may find this article about the effect of divorce on your will/trust and beneficiary forms helpful.
As a single person with children, you will definitely need to consider guardianship in your estate plan. This article is for you.
If you’re curious about how Will-Based Plans and Trust-Based Plans are different, this is one of our most popular articles.