Estate planning topics for those in retirement

On Behalf of | Sep 6, 2020 | Probate And Estate Administration

Individuals in Nevada and elsewhere who enter retirement may encounter a variety of topics to address as they approach a new stage in life. Those facing a similar scenario who have yet to enter the estate planning process or who remain uncertain if they have taken advantage of all their options may wish to know some of the basic topics to cover while planning for life ahead. While there may be a variety of options available, experts indicate that it may be vital to cover certain topics.

According to experts, one of the first estate planning options to consider involves creating a will. This document can cover various topics, such as the distribution of property upon death and guardianship for minor children. Another option to consider involves choosing someone to act on one’s behalf financially should a person become incapable of making such decisions by implementing a power of attorney.

Those who wish to set clear terms as to health-care preferences could also find it helpful to explore the benefits of implementing a health care directive. With this option, a person may be able to state the types of treatment acceptable or choose someone to make such vital decisions on his or her behalf should it become necessary. Experts also suggest that those entering this stage in life may benefit from compiling and keeping a list of essential estate planning information.

Estate planning could offer a variety of possible benefits to individuals of any age. Individuals in Nevada who have concerns over how best to cover every crucial topic could benefit from seeking legal counsel for guidance on all their options. An attorney can help a client address each option and work toward creating an estate plan that best aligns with his or her needs and preferences for the future.