When most people think about estate planning, they picture a married couple planning to leave inheritances behind for their children. But estate planning is just as important—maybe even more important—for people who are single. Just because you are not married and do not have children does not mean you do not have people and things you care about. You have a right to decide what will happen to your money, your property, and your health if something unexpected happens to you. When you have not left any instructions for how your property should be handled, laws go into effect that dictate what will happen regardless of what your wishes may have been. To learn more about how estate planning works for single people, speak with an experienced Illinois estate planning lawyer.
Why Is Estate Planning Important for Single People?
If you are single and you do not have a plan in place, your property will be handled according to Illinois law when you pass away. Certain family relationships that are automatically granted a relative’s assets if they pass away intestate, meaning they have no will or other form of expressing how they want their estate distributed after their death. That might mean your things go to some family members you are not close with and it could also mean that some people you care about get nothing at all.