Losing a spouse is like losing half of who you are. This tragic event comes with not only adjusting to a life without your loved one but also navigating the unfamiliar territory of finances. This can be especially true for women who have been accustomed to leaving financial matters to their husbands. There are many considerations to keep in mind when navigating this new territory.

If you aren’t married and have no children, you may think you don’t need an estate plan. But nothing could be further from the truth. Unlike with married couples, there could be no specific person who can legally make medical decisions for you should you become incapacitated. And if you were to die without an estate plan, your property would likely go through the probate process and potentially be awarded to a beneficiary you never would have chosen yourself.

Without a clear estate plan, pets can end up in shelters, rehomed to an unfamiliar environment, or even neglected. To avoid this, it’s essential to include pet guardianship, financial provisions, and legal documentation in your estate planning process.

Having an open and honest discussion about your estate plan is essential for ensuring that your wishes are understood and respected when you’re no longer around. It also gives your family peace of mind, knowing that they won’t be left in the dark about your intentions.

We believe estate planning should be simple, clear, and personal. Whether you are building generational wealth, caring for aging parents, or wondering do I need a will, our online estate planning services are here to help you every step of the way.

Some of the biggest changes to the tax code are permanent, including lower income tax rates, higher standard deduction amounts and higher estate and gifting exemptions. New accounts for newborns, modeled after traditional IRAs, allow parents to save money specifically for future expenses for their children.