If you are married and do not have kids, you might think that you do not need to make an estate plan. However, if you do not create one, the state law governs distribution of your assets. If however, you want to leave your estate to family, friends, or charity, you need a written estate plan. For charita
ble planners, you might consider creating a charitable trust. A charitable trust can help you save on income and estate taxes and at the same benefit a charity of your choice. Another reason you may want to create an estate plan is to appoint an attorney-in-fact in your power of attorney if your spouse is unavailable. Many married couples with adult children appoint one of them, but if you do not have children you will want to appoint someone you trust to make end of life decisions for you when you cannot. Having a power of attorney will help avoid a guardianship. Everyone should have an estate plan to protect their assets from future uncertainties.
ble planners, you might consider creating a charitable trust. A charitable trust can help you save on income and estate taxes and at the same benefit a charity of your choice. Another reason you may want to create an estate plan is to appoint an attorney-in-fact in your power of attorney if your spouse is unavailable. Many married couples with adult children appoint one of them, but if you do not have children you will want to appoint someone you trust to make end of life decisions for you when you cannot. Having a power of attorney will help avoid a guardianship. Everyone should have an estate plan to protect their assets from future uncertainties.(From “Just the Two of Us: Estate Planning for the Childless Dual-Income Household” by Jamie A. Downes)
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