10 Things to Know Before You Retire
I created a few of the these "10 Things" lists myself, and this list provides some basic information on what to think about before entering retirement.
However, in Number 8, the article states that "it is helpful to speak with a qualified attorney or estate planner to determine how best to handle your estate." (Emphasis added.) This statement is misleading in that only an attorney can prepare an estate plan for someone. Furthermore, it's not just helpful to speak with an attorney, but if you want to make sure that you have protected your family, preserved your assets, and maximized any tax savings, it is imperative. Everyone should see any estate planning attorney, and way before one starts thinking about retirement.
A few weeks ago I had my 18 year old son, who just headed off to college, sign a Will, Durable Power of Attorney, Health Care Power of Attorney, Living Will and HIPAA Authorization. At his age, he may not care much about those documents, but I feel better knowing that if, for example, he is hospitalized and can't communicate, I will have the power to communicate with the doctors and make decisions for him.
