Ask a Lawyer : Chapter 1 - Why You Need to Plan Your Estate

Talking to a Lawyer

Single and Thirty

I’m thirty, have a pretty good job, and have a boyfriend I live with but no kids. Do I need to worry about estate planning?

Although you do not have any children to worry about, there are good reasons why you should consider writing a will. If you should die suddenly and not have a will, the law in most states would require that all property in your name be given to your parents. Your boyfriend, and any of your sisters or brothers, would be left out in the cold. By preparing a will, you can ensure that your property passes, as you want it to.

Will or Not?

Is there a minimum estate you have to have before making a will makes sense? In other words, if you’re leaving a small amount, is it ever better to just not worry about a will?

Whether you need a will depends on your family circumstances. If you have a spouse and no children, the intestacy laws may work reasonably well for you. Most states have a mechanism for distributing a small estate without going through probate. However, without a will you lose the opportunity to name a guardian for your children, appoint the person to manage your estate, or provide for a gift to someone other that the next-of-kin specified in the intestacy law of your state. Even if you are married, with no children, and want everything to go to your spouse, not having a will prevents you from planning how to dispose of your property should both of you die at the same time.

Answer by Susan N. Gary, Professor of Law, University of Oregon School of Law, Eugene, Oregon.

Estate Planning in the Age of Terrorism

Have people showed more interest in estate planning following the terrorist attacks? Are they concerned about different issues now?

The events of September 11, 2001, which cut short so many lives, convinced many people that they need to prepare a will to provide for their property and loved ones. Interest in estate planning is especially strong among those who have young children. The fact that the terrorist attacks left behind so many orphans has resulted in a new emphasis on using estate planning to ensure the financial and emotional well being of the children of the person who is planning his or her estate.