Estate Planning Myth #1: I don’t need a Will – I don’t have kids

/ April 2, 2014

Even if you don’t have a Will, you still do have an estate plan. Without a Will, it’s the state’s version of Will II - iStockestate planning that prevails through your state’s intestacy statute. The state’s plan will vary based on the state in which you live and where you own property, but there will be a distribution scheme and it may or may not line up with your goals and values. The state also has a scheme for determining who will raise and care for your kids – which may or may not align with your opinions.

Having a Will means you are in control of where things go when you die.  While you won’t be around to have a hand in each and every decision for perpetuity, directing your assets to the people who align with your values and spending priorities — those who can fulfill your wishes and live your values — is under your control with a Will. All those reasons justify doing some type of planning…even if you don’t have kids!

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Erika focuses her practice on estate planning, probate and trust administration, family business succession and tax planning. She works closely with individual clients to assist them in with their estate planning and provides general legal counsel to closely-held businesses. View all posts by

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  1. Pingback: Estate Planning Myths by Erika Stein Rosenhagen | Morrison Sund PLLC – Attorneys At Law

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