Childless People's Estates

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Tali Arbel, Childless People's Estates Stun Heirs; Bequests benefit charities, distant relatives and pets. Wall Street Journal, Oct 3, 2024, at page A10 (in the section "Personal Journal").
https://www.wsj.com/personal-fin ... lls-estate-79879ae3

Quote:

(a) "Charities, distant relatives and even pets are benefiting from surprise inheritances. They can thank people without children.

"Not having children is becoming more common, both among millennials and older people. A July Pew Research Center analysis found that 20% of US adults age 50 and older hadn't had children.

"And many of these people don't have wills. An AARP survey found half of childless people age 50-plus who live alone have a will, compared with 57% of others that age. Those without wills have less control over what happens to their money, which often ends up in the hands of people who don’t expect it.

(b) "Financial advisers say a far bigger concern [when the childless are still alive] than who gets what is making sure there is enough money and support for a comfortable old age, because clients without children can't call on them for help.

" 'I hope there is something left to leave,' said Stephanie Maxfield, a 43-year-old therapist in southern Colorado. 'But if there isn't, I think that’s OK, too.'

Nite: This article is free, but there is no need to read the rest.