Estate Planning for Retirees, Part One

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Are you planning to retire soon? If so, congratulations! This is an exciting and happy time. Most people work for 30 or more years before being eligible for retirement. That’s almost a whole lifetime of working. A break is deserved. We hope you enjoy your retirement years and you’re able to relax, travel or do whatever it is that makes you most happy!

Attorney in Raleigh NC Talks Estate Planning for Retirees!

Retirement is an exciting time. It’s also want to consider for estate planning. If you haven’t already begun or already have a plan in place, it’s important to start now, either planning or updating as necessary.

Over the course of the next couple blog posts, we are going to talk about estate planning for retirees and off for a few tips that can help you get started or update your current plan. If you have any questions, be sure to contact our attorney in Raleigh NC. We can help.

One of the most important parts of an estate plan is a will. Everyone should have one in place. Even if it’s not elaborate, having one should be a priority. Without a will, assets will go through probate upon your death. That means, loved ones could have a lengthy, confusing situation to deal with before being able to distribute your assets. Even then, it’s possible that your wishes will not be reflected in the distribution.

A will allows you to give specific instructions on how you like your assets to be distributed. It’s important to remember this so that you’ll be more likely to create a will during this time of planning.

Now that you’re retired, your IRA or employer retirement plan account should be designated to a beneficiary. It’s possible that you designated beneficiary years ago. However, you may need to update it. You might also need to take a look at the financial companies documented, as well as whether not you want to add additional beneficiaries at this time.

It’s also time to take care of a seemingly minor detail. Make a list of all your financial information. This could be helpful in many ways, after your passing. Right now, it might not seem important. However, later on, this list of information will be extremely useful.

If you’ve just retired or are planning to do so soon, be sure to stick with us. Our next blog post for offer even more information on retirees and estate planning! Stay tuned.

Klish and Eldreth | Attorney in Raleigh NC 

Remember, if you don’t have an estate plan in place or haven’t reviewed yours in several years, now might be the best time to start. Our estate lawyer is here to help you get your estate planning in order and ready should you pass in an untimely manner or become incapacitated at some point. It’s better to be safe than sorry when it comes to an estate plan. Contact our office.

As always, feel free to contact us at our office to schedule a consultation with if you are looking for a lawyer to represent you in other legal matters. We are here to assist you with small business needs, trademarking, copyrighting and  DWI issues.

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