Looking to the future and making contingency plans may not seem necessary for adults in certain life circumstances. For example, single North Carolina adults without kids may not see the necessity of estate planning at this point in their lives. However, adults of all ages, marital status and income levels will benefit from having a financial and legal plans in place. This can provide peace of mind and security for years to come.
Estate plans are vehicles used to make sure wealth and assets are passed to the right people, typically a spouse and children, after death. Single adults may not have a spouse or children, but they likely have some assets they want to protect. For example, it is possible to establish a trust to ensure money goes for a specific purpose, such as charitable giving or caring for a loved one with special needs.
A single adult will also benefit from the ability to plan for his or her future health care needs. There are estate planning documents that outline one’s preferences regarding emergency medical concerns, such as life support or blood transfusions. Every adult deserves to have a say over what happens to his or her body and property in case of an unexpected event.
The right help
Having the right help is critical when creating an estate plan. A single North Carolina adult will find it beneficial to work with an experienced attorney to craft a meaningful plan that will make sense for years to come. Through estate planning, one can feel confident about his or her future.