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Commonly Asked Questions about Will Forms For People Without Children

It just takes simple math to realize that not having children will save you money. Therefore, not having children means you have extra money to save, invest, or spend. While there is never a right time to have kids, its hard to argue that putting off having kids is bad for you financially.
I give all my residences, subject to any mortgages or encumbrances thereon, and all policies and proceeds of insurance covering such property, to my husband, Tex. If he does not survive me, I give that property to . Most people want their spouse to keep the family home.
Those without children still have assets and funds that can be given to someone else: whether it be their surviving spouse, family members, or even charitable organizations. Estate Planning is the best way to ensure each of your end of life wishes are followed and that your spouse is taken care of after your death.
While the process differs by state, the inheritance hierarchy usually goes like this: surviving spouse, followed by children, and then grandchildren. If none of those relatives can be identified, your assets could go to parents, grandparents, siblings, nephews, niecesor even the state.
You may consider giving to charities or friends and family members. If you have pets, a will is an opportunity to name a guardian or caretaker for them. This ensures that your pets are taken care of by someone you trust.
Many people without children or heirs leave money to their favorite charities, although in some cases, its more tax advantageous to do so during ones lifetime in order to maximize deductions.
In addition to stipulating what to do with your financial assets, those without obvious heirs should designate a person who can make critical decisions in case of incapacitation: A durable power of attorney for finances, for example, authorizes someone to handle your financial and legal affairs.
The best way to disinherit your child is to schedule a comprehensive review of your estate plan. You will have to make it clear that you do not want your child to receive an inheritance because simply striking their name from a will is not enough to prevent a probate challenge.