U.S. News Article on importance of estate planning even if you don’t have children

November 30, 2015 - Posted by: admin - In category:

taxes - No Responses

Life Planning (a/k/a estate planning) is for every person, whether or not they have children.

I recently came across an article on the U.S. News website about estate planning considerations for individuals without children.  This is significant because it invites us to consider and reject the common myth that this stuff is just for parents (i.e. “old parents”).  Nothing could be further from the truth.  While I do not agree with everything written in the article, there are some good points made by the author, Molly McCluskey.  And again, at very least, the article can provide a helpful spur for many individuals to re-examine the state of their “life planning” and in the process, reject so many of the myths associated with this area of the law.

Below is a link to that article, but before you read, please be aware that the author of the article is NOTan attorney. Instead, she is, by her own admission and description, an “Independent journalist. Occasional podcaster. RTW traveler.” I mention this to highlight the fact that although Ms. McCluskey is a solid writer who has done some research in order to write this article, she is no more qualified to advise you as to your legal rights and recommended strategies than I am qualified to advise you on the health of your heart or when you will need to have that knee replacement surgery you have been considering.  In particular, I strongly disagree with Ms. McCluskey’s recommendation to use internet form libraries as you engage in your own “do it yourself” legal work.  Of course, I am biased in my views, no question.  At the same time, Ms. McCluskey almost certainly has no experience cleaning up tragic and very expensive messes caused by such “do it yourself” legal work (just like I have no experience helping people who have received improper medical advice).  So please, read the article with more than a few grains of salt and run away from the suggestion at the end to use internet forms.  That particular step could end up being the most expensive and problematic decision you ever make.  Do yourself and your family a favor and just don’t go down that road.

Here is a link to the aforementioned article:

http://money.usnews.com/money/personal-finance/articles/2015/10/14/no-kids-you-still-need-an-estate-plan

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