ESTATE PLANNING FOR WOMEN
While estate planning is important for everyone, it is often even more critical for women, as they tend to outlive their male counterparts by seven years, on average. Because women tend to outlive their partners, women often have the final say over the ultimate disposition of the assets accumulated by the couple throughout their lives.
Women also continue to have increasingly more power over finances. Not only is there currently a large number of women in the workforce, but women tend to inherit wealth from their spouses and families, thereby contributing to their ownership of over one-half of the wealth in the United States. Estate planning is the only way for women to exercise control over the distribution of their wealth at death. Importantly, estate planning also enables women to name guardians for their minor children and to ensure that their assets are managed, protected and distributed for the benefit of their children and loved ones, by the right individuals and according to their wishes.