Cruising into retirement can be an exciting time. After working hard and saving, you’re ready to leave the job world behind and enjoy your golden years. But before you step into the sunset, there are a few crucial steps you should take to make sure your estate plan is bullet proof.
So let’s take a look at some important moves to make right now.
Update Your Will
Things change. Divorces happen, new marriages occur, people pass away, and new children are born. All these life events could have an impact on how your will is structured, so it’s important to review it from time to time. Make sure the designated beneficiaries and asset distribution still align with your wishes.
Appoint a Financial and Medical Power of Attorney
Life is unexpected. And no matter how well you take care of yourself, tragedy can strike at any time. You could become incapacitated, and your financial world can come to a standstill as a result. That’s why it’s important to appoint a legal financial power of attorney. This should be someone you can trust and who is fully capable of managing complex finances.
Javier Simon
Author
Javier Simon is a freelance personal finance writer for The Epoch Times. He specializes in retirement planning, investing, taxes, fintech, financial products and more. His work has been featured by major publications including Fox Business, The Motley Fool, NerdWallet, and Money Magazine.
