Estate Planning for Retirement
Are you planning to retire soon? You have worked hard your entire life and are now able to enjoy the fruits of your labor! A time to take long walks, play bridge, golf, or whatever your heart desires! This is a huge milestone worth celebrating! And while this achievement deserves much celebration, there is a lot that goes into taking such a big step.
“Retirement is when you stop living at work and begin working at living”
Retirement and Estate Planning
As you enter your golden years, having an estate plan in place will give you peace of mind knowing that your estate and hard earned money are protected.
Have an estate plan already?
If you already have an estate plan, thats great! You have taken that initiative. However, estate planning isn’t a one-time thing. You need to make sure that you review it each year to make sure that no changes need to be made.
Here are some questions you can ask yourself when you want to decide if your old plan needs a new update.
Do you still own the same property?
Do you still have the same account balances and what will those balances look like at your death as you use your hard earned savings to enjoy retirement?
Does your current plan still have your children listed as minors?
Does your plan include a life insurance policy from an employer? This policy may no longer exist once you retire.
Is your current beneficiary distribution plan still appropriate and/or possible? You may want to change how much and when your beneficiaries receive their inheritance.
Need an estate plan?
If you do not have an estate plan, you should consult with an attorney as soon as possible. At this point in your life, this is not something to put off until tomorrow. Here are some questions you should think about:
What accounts and property do you own? What do you want to happen to these assets?
What are the current needs of your loved ones? Do they need any type of support?
What are your goals and can you accomplish those goals with what you have?
And, if you haven’t already, download our Estate Planning Workbook to help you through this process!
Sum It Up
Retirement is an exciting time. We would like to help you make sure you can continue that celebration for years to come!
Schedule an initial call with us to learn how we can help review your old estate plan, or create a new one entirely!
Are you ready to take control?
Follow these steps to get the ball rolling in your court!
Download our Estate Planning Workbook to help you think through some of the questions you will be required to answer
Review our Estate Planning pricing plans to learn more about how we help you plan for your future.
Get started working with us when you are ready to take control of your legacy!
We hope you found this estate planning information helpful. As a reminder, the information presented here is for general informational purposes only. You are unique, and legal advice should be tailored to your unique situation. Do not rely upon any information here as legal advice. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship. If you would like to learn more about how we can protect your family or small business, please contact us!
Cherish Legal is an estate planning law firm based out of Rockford, Illinois. We are licensed to practice estate planning in Wisconsin and Illinois. We provide virtual estate planning services to families and legal counsel to small businesses located. Our services include: wills, trusts, power of attorney, estate plans, guardianship, trust administration, probate, and asset protection.
