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Summary: Childfree Estate and Long-Term Care Planning

(Financial Experts Network Webinar – October 21, 2025)

1. The Growing Childfree Demographic

Dr. Zigmont began with data underscoring the size and influence of the childfree population:

• 21% of U.S. adults are childfree by choice, and another 4% are childless not by choice — roughly one in four adults nationwide.
• Among Millennials and Gen Z, over 45% say they do not plan to have children.
• 32% of childfree adults over 55 have never married, compared with 2.5% of parents.
• The highest net worth group over age 55 are single, childfree women, according to U.S. Census data.

📖 Fact check: U.S. Census Bureau – “Fertility and Childlessness in the United States.”
https://www.census.gov/data/tables/2023/demo/fertility/women-childlessness.html

These shifts have implications for advisors: the traditional estate and retirement planning models—which assume clients will marry and have heirs—often fail to meet the needs of this group.

2. Financial Mindset: Living Fully and “Dying with Zero”

Childfree clients tend to prioritize life enjoyment, giving, and security over legacy transfer.

• Many embrace the philosophy of “die with zero,” focusing on using their wealth during life rather than leaving inheritances.
• Estate planning is therefore about self-care, security, and values alignment, not generational wealth transfer.
• Advisors should avoid assumptions about legacy goals and ask instead: “What experiences or causes do you want your money to support?”

📖 Fact check: Bureau of Labor Statistics – “Consumer Expenditure Patterns by Age and Family Type.”
https://www.bls.gov/cex/

3. Long-Term Care: Planning Early and Intentionally

A. Why It’s Critical

Without children to rely on, childfree individuals must proactively fund and manage their own care.
Zigmont recommends clients finalize long-term care strategies by their mid-40s, when:

• Long-term care insurance (LTCi) is still affordable.
• Health qualifications are favorable.
• Parents’ health conditions (e.g., Alzheimer’s) haven’t yet disqualified applicants.

B. Average Care Costs

• Average annual skilled nursing cost: ~$125,000 nationwide.
• Duration: Men average 2.2 years; women 3.5 years of care needs.
  📖 Fact check: Genworth Cost of Care Survey (2024):
  https://www.genworth.com/aging-and-you/cost-of-care.html

4. Long-Term Care Funding Options

📖 Fact check: National Association of Insurance Commissioners – “Long-Term Care Insurance Buyer’s Guide.”
https://content.naic.org/consumer-resources/long-term-care-insurance

5. End-of-Life and Ethical Choices

Zigmont noted that 20–25% of childfree individuals express interest in “death with dignity” laws or assisted dying options.

• Only a few U.S. states (e.g., Oregon, Washington) currently permit it under strict medical criteria.
  📖 Fact check: Death with Dignity National Center – “States with Death with Dignity Laws.”
  https://deathwithdignity.org/states/

Advisors should approach this topic without bias, recognizing it as part of clients’ autonomy over long-term care decisions.

6. Estate Planning for the Childfree

A. Core Challenge

Estate law presumes clients have “next of kin.”
Without one, medical and financial decisions may default to court-appointed guardians or state agencies.

B. Essential Documents

Every childfree client should have:

• Will
• Medical Power of Attorney
• Financial Power of Attorney
• Living Will / Advance Directive

Online platforms like FreeWill.com or Trust & Will can serve as a starting point, though attorney review is ideal.

📖 Fact check: U.S. National Institute on Aging – “Advance Care Planning.”
https://www.nia.nih.gov/health/advance-care-planning

C. Trusts for Self-Care

• Traditional trusts prioritize heirs; childfree trusts prioritize the creator’s lifetime well-being.
• Language should state: “Use assets primarily for my care; remaining funds to designated charities or individuals.”
• Trust protectors can prevent issues in generation-skipping trusts, which may fail if no heirs exist.

📖 Fact check: IRS – “Generation-Skipping Transfer Tax.”
https://www.irs.gov/businesses/small-businesses-self-employed/generation-skipping-transfer-tax

7. Professional Fiduciaries and Trust Companies

For clients lacking family or friends nearby:

• Professional fiduciaries (licensed in states like California and Arizona) can act as medical and financial powers of attorney for an hourly fee.
• Trust companies or specialized firms (like Zigmont’s Childfree Trust) can serve as executor, trustee, and care coordinator, though fees may range from hourly ($275/hr) to percentage-based (~0.75% AUM).
• Advisors considering such roles must confirm with compliance departments since acting as trustee may constitute custody under SEC rules.

📖 Fact check: California Department of Consumer Affairs – “Professional Fiduciaries Bureau.”
https://www.fiduciary.ca.gov/

8. Building a “Care Team” and Emergency Plan

A complete care network may include:

• Aging Life Care Managers (see https://www.aginglifecare.org)
• Professional fiduciaries
• Local service providers (e.g., pet sitters, drivers, home aides)

Clients should maintain a “Care Document” outlining:

• Who to contact in an emergency
• Medical preferences
• Pet care instructions
• End-of-life wishes

9. Advisor Implementation Checklist

✅ Discuss values-based goals instead of legacy transfer.
✅ Encourage clients to finalize POAs and trusts by midlife.
✅ Separate long-term care reserves from retirement projections.
✅ Revisit billing models (flat-fee or retainer) since AUM structures may conflict with “die with zero” clients.
✅ Build a referral network of estate attorneys, fiduciaries, and care managers across states.

Key Takeaway for Financial Advisors

Childfree clients require a fundamentally different planning framework:

• No heirs, no default caregivers, and no generational wealth goals.
• Advisors must help them design systems that preserve autonomy, ensure care quality, and align spending with life meaning.
  The advisor’s fiduciary duty extends beyond asset growth—it includes protecting independence and dignity throughout aging.

Referenced Fact-Check URLs:

1. https://www.census.gov/data/tables/2023/demo/fertility/women-childlessness.html
2. https://www.genworth.com/aging-and-you/cost-of-care.html
3. https://content.naic.org/consumer-resources/long-term-care-insurance
4. https://deathwithdignity.org/states/
5. https://www.nia.nih.gov/health/advance-care-planning
6. https://www.irs.gov/businesses/small-businesses-self-employed/generation-skipping-transfer-tax
7. https://www.fiduciary.ca.gov/
8. https://www.aginglifecare.org