There are some people who, as they age, may need help to do their daily activities. If their physical and cognitive abilities decline, a family member or another person may step in to assist them. For some people, official legal action may be needed in order to fully help that person. A court may decide to grant a conservatorship, which is when someone becomes the legal guardian of an adult. For families here in Massachusetts who aren't familiar, here is a brief explanation of what a conservatorship entails.
Is estate planning important for those without children?
Many people here in Massachusetts realize how vital it is to have an estate plan. It is important to be sure assets are distributed in the way the estate owner wants, and to have directives in place if that individual is unable to make his or her own financial and medical decisions. Typically, many people appoint their children as their executor, especially since their children will likely inherit their estate. However, many people do not have children, so the importance of estate planning may not seem as tangible. Fortunately, experts have advice on how to handle an estate plan for those who do not have children.
