If you’re single and you don`t have kids, you are not alone. Half of the adults in the U.S. are single according to the Pew Research Center. But no matter your status, one thing is for certain, you should take care of your estate planning. This is the only way you can make sure your wishes are heard.
But for single people with no kids it can be hard to decide whom to name as beneficiaries in their will.
For those of you who are in this situation, you probably already have someone in mind, but we can give you a few suggestions to consider.
1. No One
No, this is not the guy from Game of Thrones.
Let`s say you just ignore the issue and leave whatever you own to no one. Then you must be aware that the state will fill in the blank with the name of your closest relative. Do you want that person to get it? You’d better be sure about that.
You can consider naming your sister or your brother as beneficiary or perhaps one of your “only-see-once-a–year” cousins. Imagine the surprise on their face when they find out. And why not leave a note that tells them why they were special to you?
3. Charity and organizations
If you’re still not sure about your decision, you can always pick an organization or charity that you believe in and support. Even a small donation could make a big difference and maybe it’s better than letting the state give it to that half-sister you never much liked anyway.
Leave it to your pet. You will not be the only one. There are numerous stories, such as the one about a cat from Rome who inherited $13 million from his owner, Maria Assunta.
It’s actually a very serious issue. If you find the right organization, such as Tony La Russa ARF, they will return the favor by making sure you pet finds its place in the best possible home.
This decision is never easy, single or not. Ask yourself who would be best benefited by the money. Is there a person who took care of you, helped you when you needed it the most and was always there for you in both good and bad moments? It might be your cousin, childhood friend, or Buddy the dog. When you finally decide, don`t forget to add your beneficiary in AfterVault. This way you can make sure he or she will have the right information when it’s needed the most.