Morrison Law Group, PLC

Estate Planning | Business Planning

Attend a Free Workshop SCHEDULE A CONSULTATION

Offices in Metairie & Covington (504) 831-2348

  • Home
  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
    • Estate Planning Pre-Consultation Form
    • Reviews
      • Our Reviews
      • Review Us
    • Request a Guest Speaker
    • Succession Pre-Consultation Form
  • Estate Planning
    • Asset Protection
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Incapacity Planning
    • Legacy Planning
    • Pet Planning
    • Probate and Successions
    • SECURE Act
    • Special Needs Planning
  • Medicaid Planning
    • Medicaid & Nursing Home Planning
    • Free Medicaid/Long-Term Care Calculator
  • Business Planning
    • Business Planning
    • Business Succession Planning
    • Family-Owned Businesses
    • Small Business Medicaid Planning
  • Resources
    • Estate Planning Resources
      • Estate Planning Definitions
      • Estate and Gift Tax Figures
      • Estate Planning Reports
      • Estate Planning Checkup
      • Is Your Estate Plan Outdated?
      • Incapacity Planning Definitions
    • Elder Law Resources
      • Are You A Caregiver?
      • Coping With Alzheimer’s
      • Guardianship & Conservatorship
      • Hospice Care
      • Elder Law Reports
      • Elder Law & Medicaid Definitions
    • Newsletters
    • Trust Administration & Louisiana Succession Resources
      • Bereavement Resources
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
      • How to Know if You Need Extra Help With Your Grieving
      • Loss of a Loved One
    • Families of Children with Special Needs
    • Frequently Asked Questions
      • Estate Planning FAQ’s
      • Trust Administration & Probate Frequently Asked Questions
      • Legacy Wealth Planning FAQ’s
      • Frequently Asked Questions for Families Without an Estate Plan
  • Blog
  • Contact Us

Estate Planning When You’re Child Free

December 8, 2022 by Ronald "Chip" Morrison

The increasing trend of women over the age of 40 who opted to forego motherhood is expected to continue. The reasons for remaining childless are as varied as the men and women who have chosen to skip parenthood. Many are involved in their careers, others may have married and divorced early on and have no desire for domestic life and others say they worry about the future and what it might look like twenty years from now. Still, there are long-term planning objectives that are as important for childless men and women as they are for parents. Estate planning as a whole should remain a priority.

Estate planning is far more than creating a will; it’s about ensuring your financial bases are covered through every aspect of life. Not only that, but there are healthcare considerations, taxes, insurance, creditors, and other legal considerations.

Don’t underestimate the importance of powers of attorney. Who do you trust to make medical decisions if you are unable to speak for yourself? Who pays your bills if you’re in the hospital? Who ensures the mortgage is paid and the utilities are covered? A financial power of attorney as well as a healthcare proxy are vital.

Have you:

  • Bought a home?
  • Saved for retirement?
  • Invested in stocks?
  • Opened your own business?
  • Maybe you’ve won the lottery?

These are all assets that are part of your overall estate plan and unless you want the state to determine what happens to those assets, it’s important to cover those bases with properly prepared legal documents.

Your nieces and nephews could benefit from your years of hard work. A trust is a great way to help them as they begin their lives. Whether you set money aside for college or a down payment on their first home, you could make a difference in their lives as they transition into adulthood.

Speaking of making a difference, don’t overlook the importance of charitable giving. This is a great way to give back to your community and regardless of which charity benefits from your generosity, you can be sure you’re leaving the legacy you envision.

Don’t forget to set up a pet trust, if appropriate. These are simple documents that allow you to express your wishes for your furry family members while also financially providing for their care. We love our dogs and cats and we want to be sure they’re cared for and loved if we are unable to do so or are no longer here.

Many Americans may choose to remain childfree, but that makes the need for a strong financial and estate plan all the more important. A qualified estate planning attorney can assist you with putting your legacy in place. Contact our offices today to schedule a consultation.

About Our Law Firm

Ronald “Chip” Morrison, Jr. is a Board-Certified Specialist in Estate Planning and Administration by Louisiana Board of Legal Specialization and a member of the American Academy of Estate Planning Attorneys. He has been engaged in Louisiana trusts and estate law for the last 17 years. To learn more about how you can achieve your estate planning goals, please call (504) 831-2348 or visit our website at www.morrisonlawplc.com.

  • Author
  • Recent Posts
Ronald
Ronald "Chip" Morrison
Ronald “Chip” Morrison, Jr. is a Board Certified Estate Planning Law Specialist as certified by the Louisiana Board of Legal Specialization. He is admitted to practice before all State courts in Louisiana. He is also admitted to practice before the United States District Court for the Eastern and Middle District of Louisiana.
Ronald
Latest posts by Ronald "Chip" Morrison (see all)
  • Estate Planning is Simple….Right? - February 7, 2023
  • What Happens in My Initial Estate Planning Consultation? - February 2, 2023
  • How to Leave a Mess to Your Heirs - January 30, 2023

About Ronald "Chip" Morrison

Ronald “Chip” Morrison, Jr. is a Board Certified Estate Planning Law Specialist as certified by the Louisiana Board of Legal Specialization. He is admitted to practice before all State courts in Louisiana. He is also admitted to practice before the United States District Court for the Eastern and Middle District of Louisiana.

Morrison Law Group, PLC

Subscribe Our Blog

Download Estate Planning Worksheet PDF Now!

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

Map

Morrison Law Group PLC (Metairie Office)MAP Gabb Morrison LLP (Covington Office)MAP
  • Facebook
  • Instagram
  • LinkedIn
  • Pinterest
  • RSS
MORRISON LAW GROUP
law-pay

© 2023 American Academy of Estate Planning Attorneys, Inc. | Disclaimer | Privacy Policy