Estate Planning can be seen as a purely financial endeavor that directs the transfer of assets to your loved ones after you pass away. But if you start to think about the future as you are executing a plan, you may start to consider the holistic picture.
People don’t usually pass away suddenly when they are in good health, although this does of course happen when individuals are involved in fatal accidents. The natural process of aging brings certain realities along with it, and the different stages of life should be planned for in advance.
The suggestion here is to look at retirement planning and Estate Planning as components of a comprehensive plan for aging and eventual death. For the retirement phase you have the active retirement years, and this is a period of time that a lot of people look forward to quite anxiously.
If you’re going to be able to retire and enjoy your free time to the utmost you need to plan ahead intelligently. Social Security is really just a basic safety net so if you’re going to be comfortable you’re going to have to feather your own nest.
After your active retirement years you may go through a period of time when you need living assistance, and incapacity is a possibility as well. These are contingencies that should be planned for in advance.
If you concur with the logic above, the wise course of action would be to sit down and discuss your future in its entirety with an experienced, savvy Indianapolis Elder Law attorney.
Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.