There is a common misconception that estate planning is something only couples or married people with children need to think about. In reality, it’s just as important for single people to undertake estate planning measures; in some ways, it's even more essential. There are many reasons single individuals should make their estate plans a priority.

3 Reasons Why Estate Planning Is Important for Single People

1. Name Your Heirs So the State Doesn't Do It for You

If you’re a single person, with no kids, and you pass away without a will, your estate will most likely go to whoever is your closest blood kin. In most cases, this will be either your parents or your siblings. But are these the people you want to inherit your estate? Do you have other family members, friends, or charities you'd also like to inherit a share of your estate? Most of us do, which is why estate planning is crucial for single people.

2. Nominate Someone to Make Decisions on Your Behalf

It's distressing to think about being incapacitated by a medical issue to the point of being unable to make decisions for ourselves. But, unfortunately, this is a potential problem many of us could face. Your estate plans allow you to nominate someone you trust to make legal- and health care-related decisions if you become unable to do so. Without this directive, your fate could be decided by a relative you barely know or an appointed state guardian you've never met.

3. Previously Married People Risk Leaving Their Estate to Their Ex

If you are divorced and had estate plans designed with your ex-spouse, you should revisit those plans right away. Without making changes, you can potentially bequeath your ex some or all of your estate if you pass away. A former spouse is typically a former spouse for a reason; do you want them to have your money and property if you pass away?

David Schmidt of Woodlawn Law Offices is an estate planning, disability, and family lawyer who has served the O'Fallon, Missouri, area for more than 25 years. Trust Attorney Schmidt to help you find the solutions you need to the legal issues impacting your life. Call (636) 240-6667, or visit his website to start making the estate plans that contribute to the legacy you will one day leave.