Just how important is your estate plan to your retirement plan?
It is the Cornerstone of Your Planning!
That is why Blue Cross Blue Shield of MA has partnered with Generations as their preferred provider to offer our expertise for retirement planning and estate planning services for their subscribers.
There is an old saying that says, “A chain is only as strong as its weakest link.” When it comes to planning for one’s retirement even minor oversights can sometimes have devastating results.
There are two critical elements when constructing a well thought out retirement plan. The first of course, are the financial considerations. However, historically, the most overlooked aspect is the estate plan. A complete estate plan can accomplish many things. Most people think it’s just about dying. Of course, that is an element of the planning, however, the living documents are just as important, i.e., Durable Power of Attorney, and Health Care Proxy. This is because these documents allow people to legally make important financial and health care decisions.
The consequences of not having all of your legal “ducks lined up” can have a negative impact on your loved ones both after you are deceased and while you are still alive. The common estate planning documents that are typically implemented are Wills, Trusts, Powers of Attorney, Health Care Proxies, and Life Estates. You may need some of these, or all of these documents. No matter what, it’s worth having a discussion about your individual goals and objectives.
As we say at Generations Asset Preservation, “A little planning goes a long way.”