As a single, childless person you may think estate planning in Raleigh NC is not a necessity, but that is just not true. Anyone with an estate – no matter what the size – should plan for what happens to it when he or she dies. A single person’s estate is distributed according to their state’s laws if they do not have a will in place. That means your assets could go to someone you would not have chosen. Having an estate plan can prevent that from happening.
Singles Estate Planning in Raleigh NC
Most states disperse assets through the bloodline, meaning that your spouse and children would be first in line, However, if you are not married and do not have children, then it would go to your parents if they are still alive. If they are not alive, it would then go to siblings. If you do not have brother and sisters, then it would go to distant relatives such as aunts, uncles or cousins.
If you are estranged from your family, then you may not want them to be on the receiving end of your assets when you die. If you do not have relatives that can be found, then your assets will go to the state. Like most, you worked hard for the things you accumulated in your life, so you should have a say in what happens to them when you pass away.
We hope this information helps you understand that everyone needs an estate plan. For more information as to why, visit back with our next blog post. Also be sure to contact our lawyer with any questions you might have about this or any other estate planning matter.
Eldreth Law Firm | Estate Planning in Raleigh NC
Remember, estate planning in Raleigh is important. It’s a way to ensure your loved ones are cared for after you’ve passed. It’s also a way to distribute your belongings to specific loved ones as well. It’s important that one not pass without this document. Doing so can result in a court case that will leave your loved ones stuck in probate court. This could be not only time consuming but expensive as well.
Regardless of whether you're married, single, wealthy, childless or a parent, it's important for all adults to have an estate plan and the proper documents in place at the beginning of each year. If you're ready to begin planning your estate contact our attorney, today.