In life, there are things that we all know we should do. Exercise, eat healthy and budget wisely are things that we know have inherent benefits; yet many of us fail to take steps to incorporate these positive actions into our lives and thus may suffer the related consequences. Similarly, estate planning is something that many people know they should be doing, but may put off until it’s too late.
Fear of mortality and lack of understanding and are two main reasons that people avoid the estate planning process. However, failing to plan wisely for both the knowns and hypotheticals in one’s life can end up having devastating and unforeseen consequences with regard to both one’s own financial security as well as the financial security of loved ones.
People often wrongly believe that estate planning only pertains to matters surrounding and subsequent to one’s own death. In reality, there are many important estate planning vehicles that can be established for one’s own benefit during the retirement years.
By taking steps to plan for long-term care needs, an individual can help ensure that he or she is able to dictate the terms of one’s retirement years. Today, people are living longer than ever and large percentages don’t have a solid plan in place to ensure they have enough money to live comfortably and account for healthcare and living expenses.
For more information, please contact estate planning attorney Regina Kiperman:
Or visit her at her new location:
80 Maiden Lane
New York, NY 10038
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