You’re nearing a new milestone in your life. Retirement is something most older adults dream of. The day they can stop working so hard and simply enjoy the fruits of their labor. Spending more time with family, starting passion projects, traveling, and enjoying their days is at the forefront of their minds. While these are all great things to look forward to, living out your best years won’t be as enjoyable if you haven’t properly prepared.
By this point, it is likely that you’ve accumulated some sort of savings, invested in your retirement account, and perhaps even started reducing your debts so you can live comfortably. Yet, have you given any thought to what will occur should something happen to you? As you get older the risk for serious health problems, injuries, and even death are more likely. Though it’s not something you really want to ponder on too long, it’s best to deal with matters while you’re in good health.
Estate planning is an essential process that seniors should consider before retiring. Working with a firm like Lawyer in Blue Jeans Estate Planning can help you in the areas listed below:
Passing Down Financial Assets
Though you hope you have many years ahead of you in retirement, you simply can’t predict the future. An estate planning attorney can work with you to ensure you have the proper paperwork in place to pass down your financial assets to your surviving loved ones. Here are some ways they help you transfer assets after your passing:
Planning for Future Care
Right now, you’re in decent health and ready to experience retirement, but who is to say that will be the case in a few years? When you plan your estate prior to retirement, however, you give yourself an opportunity to make arrangements for your care when you’re unable to make decisions for yourself.