Estate Planning for Single Parents

Whatever stage in life you’re at, when you’re single you must address a critical question of who will take responsibility and take care of your desires and your wishes when you are ill, incapacitated or when you pass on.  The number of single people facing that question has steadily increased. In fact, U.S. Census Bureau data shows singles have overtaken married couples as the majority of the population. It’s a trend that’s been creeping along for decades, but in the 2010 census, singles represent 52 percent of all households.

Why Should Single Parents Worry?

The urgency for estate planning is greater for singles than couples because both laws and custom dictate the spouse take care of most issues, whereas with singles there is no option unless the single writes it down.