Estate planning may generally be considered a family activity, but women may find that they have more reason than their husbands (or single male counterparts) to get the ball rolling. Although tradition tells us that the man will bring home the bacon and take care of his family, statistics tell us that women are three times more likely than men to end up as caretaker for their spouse, and women outnumber men five to one as a widowed spouse.

These statistics and others, according to William K. Hayes, are Why Estate Planning Is a Woman’s Issue. “For women, the importance of estate planning is paramount,” says Hayes, “because most often women must cope when loved ones become disabled or die.” What “coping” often means is dealing with the probate court during a time of emotional vulnerability.

In so many households it is the women who run the tight ship—juggling the social schedule, the household chores, bill paying, childcare, careers, spiritual matters, and more. So why when it comes to the financial future or estate planning are they suddenly hands-off? Especially when so very much of their own interest is at stake?

Men may be considered ‘the stronger sex’, but history tells us that women are the ones with the longevity who end up holding the bill. Women cannot afford to be hands-off about their futures any longer.

www.blogprofs.com

Share on Facebook