Andrea Coombes of Market Watch, has written about how women can make estate planning easier. Ms. Coombes writes:
“Got a plan? Whether you’re single or married, divorced or widowed, a parent or not, you need an estate plan. That’s true for men and women, but women face challenges that make it even more important for them to start planning sooner rather than later.”
It’s not that there are different estate-planning tools for each sex. But women are likelier to live longer, they’re likelier to be custodial parents and, speaking generally, women often approach the topic differently than men.
“Estate planning is different for women and men, but not because of anything technical. It’s different because of the psychologically different way that women approach the process,” said Patricia Annino, attorney at Prince Lobel and author of “Women and Money: A Practical Guide to Estate Planning.”
“Women spend all their time taking care of everybody else,” she said. In the process, she said, they forget those flight-attendant instructions. “You must put the mask over your own face first.”