Are you Retired? Points to Remember when Creating an Estate Plan

There is no denying the benefits of creating an estate plan in your 20’s or 30’s. While most understand the importance of doing so, some continue to put this off. Soon enough, they have retired and are looking forward to the rest of their life. However, they still don’t have an estate plan in place.

Does this sound all too familiar? Maybe you are in this position. Maybe your parents have yet to create an estate plan. Either way, there is still time to take care of all the finer details.

If you are retired and ready to create an estate plan for the first time, here are three points you need to remember:

1. Set goals. What are you trying to accomplish? Once you answer this question, you will have a clear idea of which direction to move. Most people in this age group want to create a plan based around what will happen to their estate upon their death. Of course, there are other goals to keep in mind as well.
2. Discuss your options with an attorney. Over the years, we have helped people in every age group create an estate plan they are happy with. Furthermore, we provide information on each and every option. Is a will the right choice for you? How about a trust? What are your power of attorney options? These are the types of questions an attorney can address.
3. Bring your family into the conversation. This is a big deal, especially if you are married and/or have children. Nobody wants to talk about the end of their life, but it is important to do so. You want to make sure your loved ones are on the same page, as this will make things a little bit easier on them once you pass on.

If you are retired, take a strong look at your estate plan. What do you see? If you don’t yet have an estate plan, or need to make some key changes, now is the time for doing so.

• Author
• Recent Posts

Stephanie Thompson, Estate Planning Attorney of Krueger Hernandez & Thompson SC

As the owner of Krueger Hernandez & Thompson SC, it is Stephanie’s mission to address each client’s goals for their estate plan. By identifying their wishes and concerns she can educate, guide, and counsel on the different tools and options that will effectively and efficiently accomplish those goals.

Latest posts by Stephanie Thompson, Estate Planning Attorney of Krueger Hernandez & Thompson SC (see all)

• Tax Planning for 2023 - January 25, 2023
• The Importance of Having an Estate Plan - January 11, 2023
• Understanding Undue Influence – Part II - December 19, 2022