Planning for the future is a responsibility that people in Independence, MO, should take seriously, regardless of their marital status. Unfortunately, it is a common misconception that only married couples or those with substantial assets need wills.
In reality, single people also need wills to ensure that people honor their wishes and that they take care of any loved ones in the way they want.
About 30% of U.S. adults indicate they are single. Many of these people have assets, and one key reason for single individuals to have a will is to protect their assets. Even if you do not own a large estate, you likely have possessions, savings or investments that hold value. Without a will, the state may not distribute these assets according to your preferences.
Creating a will allows you to specify who should inherit your assets. For singles, this can be particularly important because, without a will, state laws may determine the beneficiaries, which might not align with your wishes. By outlining your beneficiaries in a will, you ensure that your assets go to the individuals or organizations you care about most.
Designate guardianship of dependents
Single individuals who have children or dependents should consider a will as a way to designate a guardian. This ensures that the people you trust are responsible for the care of your loved ones if something were to happen to you. Without a will, the court may decide on guardianship without considering your preferences.
Avoid family disputes
In the absence of a will, family disputes can arise over the distribution of assets and property. By clearly stating your intentions, you can minimize the potential for disagreements and conflicts during an already emotionally challenging time.
Life is unpredictable, and accidents or unexpected illnesses can happen at any age. Having a will in place provides peace of mind, knowing that you have taken steps to prepare for unforeseen circumstances. It is a responsible way to ensure that your affairs are in order should the unexpected occur.