As you start thinking about retirement, it is essential that you organize your estate plan for your retirement, too. Many times, estate planning is a drastically neglected aspect of retirement, and we are here to say that you should not make the same mistake. If you are an individual who is now looking to retire and would like to update your estate plan to reflect that, keep reading and give our skilled Butler County estate planning & probate attorneys a call today to learn more about estate planning and what we can do for you. Below are some of the questions you may have:
What aspects of retirement should I consider in my estate plan?
If you are getting prepared to retire, the two main aspects of your estate plan you should concentrate on, outside of creating trusts and wills. They include the following:
- Powers of attorney: Powers of attorney are excellent tools for people who would like to give a trusted party the right to make critical life decisions on their behalf, should they become incapacitated, or are unable to do so themselves at some point. Powers of attorney can allow certain people to manage your finances, make certain key medical decisions, and more, for you.
- Beneficiary designations: If you are preparing for your retirement, one of the most important things to account for is specifying beneficiary designations, wherein you can update beneficiaries on your life insurance, retirement plan, and pay-on-death designations. You have the ability to create both of these plans together so you only have to do so once.
Why do I need to create an estate plan?
Developing a comprehensive estate plan is something everyone must do in their lifetime so their finances and loved ones will be taken care of after you pass. There are several important estate planning documents available, including wills, trusts, and. You can also make what is referred to as an advance healthcare directive, wherein you can provide individual family members the right to make essential medical decisions on your behalf if you are incapable, such as whether you should go on a ventilator. If you have any further questions regarding estate planning and retirement, please do not hesitate to give our knowledgeable Pennsylvania estate planning attorneys a call today. We have assisted numerous individuals to receive the peace of mind they need over the years, and we are prepared to do the same for you. Give us a call today to get started on your estate plan. We are on your side.
CONTACT OUR EXPERIENCED PENNSYLVANIA FIRM
Whether you are dealing with matters involving estate planning, estate administration, or elder law, you need a legal team you can feel confident will represent your best interests, every step of the way. We are that legal team. Contact Heritage Elder Law & Estate Planning today so we can get started.