Everyone needs an estate plan, regardless of marital or family status. For individuals without children, the more urgent issue can be what happens if they become ill or incapacitated and do not have a direct next-of-kin or spouse to make medical or financial decisions. Having documents in place for power of attorney, medical proxy and estate plans reduces vulnerabilities for single and/or child-free adults. If you have pets, setting up a pet trust ensures that your beloved companions will always be cared for, no matter what life brings.
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