When people think of estate planning, they automatically picture large families and generous inheritances. But single individuals must plan their estate, too. Creating a plan is paramount, even if you don't have a partner or children to pass your assets to after you're gone. If you are looking for a singles estate planning attorney in New York City, visit this website.

Singles estate planning determines what happens to your wealth after your death. However, it also determines who can make decisions on your behalf. Here are some tips to keep in mind when making these critical decisions.

Don't Wait

One of the biggest mistakes you can make is waiting. Some single people assume that they don't need to create a will right away because they don't have families. But just because you're not married doesn't mean you lack a family that needs support.

After your death, siblings, parents, and other family members will have to deal with the mess of a poorly planned estate. Do them a favor and figure out these details and set it up.

Update Your Will as Your Life Changes

Don't worry: You can change your will if necessary. These documents are legally binding, but updating them is easier than you might think. Your life could change drastically.

You can meet the person of your dreams, get married, and start a family. Singles estate planning suddenly becomes more complex, but it's wise to update your plans whenever significant changes occur.

Identify Heirs and Beneficiaries

Choosing heirs is a natural process when you're married and have kids. But when you're single, it can be less traditional.

Contrary to popular belief, you don't have to pass your assets on to your family. Your heirs could be close friends or people who matter most in your life. There's also the option to name charitable organizations as your biggest beneficiaries, giving one last donation to causes you hold dear.

Determine Who Will Make Decisions on Your Behalf

Remember to name a power of attorney and health proxy. When you appoint a power of attorney, you name someone who will make decisions on financial affairs when you cannot. The same applies to health proxies, but they focus on healthcare decisions when you're incapacitated.

Give these individuals all the thought you need. The decisions they'll make aren't easy, so choose people you trust.

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