1) Be organized from the start

  • Meet with a financial advisor to discuss retirement and post-mortem finances
  • Create a plan for managing debt
  • Be clear about expectations in your estate

2) Update your estate plan

Include the most current information regarding your:

  • Your insurance policy
  • Your assets
  • Your beneficiaries, executor, or trustees

3) Review your life insurance policy

As you approach retirement or soon thereafter, you should review your life insurance policy to make sure that it aligns with your current needs and how you want your assets to be handled after you pass.

4) Designate a power of attorney

If you ever become sick or unable to manage your own finances, it can help to choose someone to do it for you. 

In general, there are three types of power of attorney agreements:

  • General
  • Durable
  • Springing

5) Have a plan for your income

  • Retirement plan income
  • Part-time job
  • Social Security benefits

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