Why is estate planning for women different than estate planning for men? On average, women live about 6 years longer than men, a fact that has implications for their estate planning.
Women likely to entrust finances to spouse. Women who turn over financial matters to their husbands may assume that the husband will take care of any estate planning needed. This is a dangerous assumption to make. If your husband dies without a Will and you survive him, you may be unpleasantly surprised at how state law dictates the estate will be distributed. In Tennessee, if a person dies and is survived by a spouse and children, the spouse receives only one-third to one-half of the estate. [Read more…]