Are you single, have no children or no close next of kin? Then you may think the idea of estate planning is really something you don’t need to worry about. That couldn’t be further from the truth. Estate planning is really as much about you as it is about what you leave your next of kin. Here are some reasons why you should have an estate plan regardless of your family status.

Who Makes Medical Decisions?

Who would make the decisions for you if you became incapacitated and were unable to decide for yourself? If you have parents who are still alive, and capable, they may be tasked with the job. If not, it may fall to medical staff or a social worker.

Medical power of attorney is one of the main reasons that you should have an estate plan. Your attorney can assist you in choosing the right person to speak for you medically and financially should something happen.

Taking Care of Finances

While you are recovering and unable to do so, who would ensure that your finances were taken care of? Do you trust the courts to appoint someone who has your best interests at heart? This is another reason why you should have an estate plan.

It will allow you to determine who will handle your affairs while you are unable.

If you need assistance in writing a will or estate plan, or naming Medical or Financial power of attorney, contact Stano Law group.