It is a common presumption that people draft wills so they can pass significant assets along to their children. Still, an estate plan can also be quite valuable for those who do not have children or perhaps never married. Whereas many consider children and descendants their legacy, those who draft wills can create meaningful legacies that enable your memory to live on.
There are other worthwhile beneficiaries
It may be well and good to give money to siblings, parents, nieces and nephews, but charitable giving can continue to support causes and things that are important to you. This gift could be to an animal rescue organization, public television, or a local park. It could involve a foundation or an endowment. It is also becoming increasingly common to arrange for the ongoing care of pets or animals who outlive their owners.
Medical care directives
Living wills and other health care directives are essential to any estate plan. Perhaps more so if there is no close family member like a child or spouse to entrust with executing such orders like do not resuscitate under specific circumstances. These arrangements can also include plans for donating organs.
Its always better to plan ahead
Those interested in drafting a will and creating a thoughtful estate plan can discuss the matter with an estate planner. They can help couples or individuals develop estate plans that hold up in court and address their priorities rather than leaving it up to a probate court judge to decide.
