As mentioned in this October 2014 National Review article, being childfree is not second best. In the United States there has been a growing trend of couples choosing not to have children. The reasons for couples deciding to remain childfree are as diverse as the couples themselves. As any child free couple will tell you just because there are no children doesn’t mean that they don’t have a family. As these couples and individuals begin to obtain the sort of traditional assets such as homes, savings and market accounts and other long-term benefits, they want to ensure that their loved ones are taken care of when they are gone.
Estate planning allows childfree couples to be in charge of where their assets end up. They may take care of their friends, siblings, parents and even their pets (maybe their fur babies) through the use of wills, trusts, power of attorney and even pet trusts. Your bank account doesn’t need to be a certain number, your family doesn’t need to look a certain way; estate planning is for everyone. Loved ones come in all shapes, sizes and relations and planning now can help ensure those closest to you are taken care of in the future.
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