If you have a family, you need an estate plan. It is about much more than passing on money, business, or property. An estate plan makes everything easier for those you love when something happens to you.
Estate planning, in its broadest sense, is a way to turn your wishes into a plan and make them legally binding. It encompasses things such as giving money for grandchildren’s college funds, stating who you would like to raise your children if you could not and establishing a financial power of attorney.
While the possibility of being single can have a big impact on either spouse, women are often more likely to face more challenges if they are to suddenly become widowed.