A growing number of individuals choose never to be married and, as a result, face some unique challenges when managing their estates. For one, not having a spouse means that statutory presumptions will dictate decision making authority unless otherwise specified. In addition, when decision making authority is expressly dictated, the named person might not remain the best option as time progresses which requires a regular review to update contacts and decision makers as needed. Of course, a will is of the highest importance for the permanently single if they want their estate pass to people or organizations that are excluded under intestacy. Ultimately, estate planning for the single person is not difficult, however, it does require some extra dedication making sure the right people are in a position to inherit or make decisions in the event of incapacitation.
See Fran Hawthorne, Estate Planning for the Never-Married, New York Times, November 11, 2015.
Special thanks to David J. Maldonado for bringing this article to my attention.
