Estate and Retirement Planning Without Children: Why It Still Matters

If you’re entering your later years without children, you’re not alone. In fact, nearly one in four adults in their 50s and 60s never had kids. And while many people assume estate and retirement planning are primarily for those with children, the truth is, these plans are just as—if not more—important for individuals without direct heirs.

Without children to potentially step in and help manage financial or healthcare matters, it’s essential to build a strong support system and legal plan that reflects your needs, values, and future goals.

Who Will Step In If You Can’t?

One of the most critical components of estate and retirement planning is identifying who will make decisions on your behalf if you become unable to do so. This can happen due to physical illness, cognitive decline, or an unexpected medical event. Without children, you may need to look to:

• Trusted relatives like nieces, nephews, or siblings
• Close friends who are reliable, nearby, and in good health
• A professional fiduciary or care manager, such as a geriatric care manager, who can oversee your medical and financial affairs

Designating a power of attorney for finances and a healthcare proxy ensures your wishes are honored and that someone is legally empowered to act on your behalf if needed. These decisions should be made early—before a crisis arises.

Planning for Long-Term Care

Another important consideration is the potential cost of long-term care. Without children to serve as caregivers, you may need to rely on professional care sooner or more extensively than others.

• Long-term care insurance can help cover the cost of in-home assistance, assisted living, or nursing home care
• Purchasing a policy earlier, ideally in your 40s or 50s, can reduce costs and expand your options
• A private nursing home room can cost over $100,000 per year—planning ahead can protect your savings

What Happens to Your Estate?

Even if you don’t have children, your estate still matters. Without a plan in place, state laws will determine who inherits your assets—and that may not align with your values. For example:

• A distant or estranged relative may receive everything by default
• Charities or causes you care about won’t receive anything unless specified in a will
• Friends, partners, or other chosen family members may be entirely excluded

Creating a will or trust allows you to control where your assets go and ensures your legacy reflects what’s most meaningful to you.

The Bottom Line

Child-free individuals may have fewer traditional family obligations, but that doesn’t make estate and retirement planning any less important. In fact, these plans can provide critical peace of mind, knowing that someone you trust can act on your behalf and that your assets will be distributed according to your wishes.

Key Takeaways

• A support team is essential – Designate trusted people or professionals to manage your finances and healthcare if you become incapacitated.
• Plan early for long-term care – Insurance is more affordable when purchased at a younger age and can help protect your savings later in life.
• You still need an estate plan – Without one, state law determines who receives your assets, which may not reflect your intentions.
• Make your voice heard – Whether you want to support loved ones, friends, or charitable causes, estate planning gives you the power to decide.

At the Werner Law Firm, our estate planning attorneys understand that planning for the future looks different when you don’t have children. Whether you’re concerned about who will make decisions on your behalf or how your assets will be distributed, we’re here to help you create a plan that reflects your values and gives you peace of mind.

If you have any questions, schedule a free appointment with us through our online appointment page.

You can also read reviews from some of the hundreds of clients we have helped over the years.

Reference: AARP (March 3, 2025) “How to Plan for Retirement When You Don’t Have Kids”