If you’re single with no children, an estate plan can help ensure your wishes are carried out, and important decisions remain in trusted hands.
Without a will, state intestacy laws generally determine who inherits assets. While beneficiary designations may control certain accounts, assets without beneficiary designations or joint ownership typically pass according to state law.
For singles with no children, state law may call for assets to be distributed to relatives such as parents, siblings, aunts and uncles, or cousins. If no relatives can be located, assets may pass to the state.
For higher-net-worth singles, estate tax planning can also matter. For a person who dies in 2026, the federal basic exclusion amount is $15 million, although adjusted taxable gifts and other rules affect the calculation and state estate or inheritance tax thresholds may be much lower. Trusts and other planning techniques may be appropriate depending on the circumstances.
Additionally, a durable financial power of attorney can authorize someone you trust to handle financial matters if you become incapacitated. Medical decisions are generally handled through a separate health care proxy, medical power of attorney, or advance directive under applicable state law.