Everyone is Unique. So is their estate plan. Whether you’re single, married, partnered, with or without children, your estate plan should be customized to meet your specific goals. Take a look below for the essential estate planning instruments/documents that pertain to you.
For detailed articles on each of these items/areas, take a look at my Blog.
MARRIED WITH KIDS
If you’re married with kids, your most urgent estate planning documents are likely the following:
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Will (and Living Trust) with Legal Guardianship clause
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Standby Guardianship
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Beneficiary Designations
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Advanced Directives (both spouses to have their own)
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Power of Attorney (each spouse to have his/her own)
SINGLE PARENTS
Single parents have much the same estate planning needs as married parents, but I would prioritize them as follows:
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Standby Guardianship
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Advanced Directives
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Power of Attorney
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Will (and Living Trust) with Legal Guardianship clause
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Beneficiary Designations
SINGLES
Single men and women have, in a sense, immense freedom when it comes to what they can do with their estates. That said, I would highly recommend the following in terms of priority:
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Advanced Directives
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Power of Attorney
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Will (or Living Trust)
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Pet Trust (where applicable)
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Beneficiary Designations
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Charitable Trust
