Time and time again, I’ve heard single people say “I don’t have a large family or much property,  I don’t need an estate plan.”  I have to be honest, prior to the birth of my son, I thought the exact same way.  Admittedly, it took me a year after my son’s birth to complete my estate plan.  Upon completion, I packaged it up nicely and told my close relatives of its contents and explained where exactly to locate my most important documents.  Then, I breathed a sigh of relief.  Why in the world did it take me so long?

Top Reasons Not to Have an Estate Plan

Well, for all of you naysayers, relax. You wont need an estate plan if:

1. You have no problem being buried next to your father and grandmother.  After all, your mom HAD to use that extra plot she purchased.

2. You have children and you’d rather the Surrogate’s Court decide how to distribute your assets amongst them and who will ultimately be responsible for rearing them.  Your irresponsible brother seems to be a perfectly appropriate guardian.

3. You love the thought of your irresponsible brother, your closest relative, in proximity, making life-changing decisions for you, such as whether the doctor should end life support or keep you on a feeding tube, should you find yourself in a comatose state.

4. That place that you worked so hard to buy.. Yeah, you’d like the Surrogate Court to decide what to do with it;  place it for sale or better yet, let your irresponsible brother move in.

5. You won’t mind that your new cherry red Mercedes Benz (or 1999 Honda Civic) will be sold, in the event of your untimely death, and the proceeds will be distributed to your creditors.

Conclusion

So, if you happen to be fine or even excited about the scenarios mentioned above, by all means, DO NOTHING.  However, if you’re mortified at the thought of having a zero percent say in an unfortunate future, please feel free to contact us and we’ll be happy to develop an estate plan for you.