Single parents will face different issues than married parents or people without children as they create their estate plan. When single parents create an estate plan, a determination will need to be made about who should get custody of their children if something were to happen to them, and the other parent is not involved in the child’s life.

They will also need to consider providing financially for their children in case something happens to them. Once children grow, single parents need to determine how to avoid estate tax. When transferring a larger estate to their children, a parent will need to decide if they want their children to make medical choices and/or manage assets on their behalf if the parent becomes incapacitated or if they would prefer to make alternative plans.