Here for YOU Today and There for your FAMILY Tomorrow

More Planning and Savings, Not to Mention Attention to Health, for Longer Lives

05/03/2017

According to a survey of seniors from the National Council on Aging, 80% of respondents said that they planned to remain in their homes, although 40% felt that they would need a child or grandchild to care for them at some point. The survey, reported in an article in Forbes, “You May Live Longer Than You Expect: Are You Prepared?”, also found that about a third didn’t know if they had enough money to last through retirement. Here’s the kicker: some of those surveyed didn’t have a financial plan in place. The results of this survey does not surprise me.

There are several things you can do in preparation for a good quality of life as you age. First, begin as soon as possible so you can take full advantage of resources that can help you have a longer, healthier life. You should start with financial planning. It is important to share your current financial situation and describe your goals for both before and after you retire. This will allow you to design a workable plan that will help you achieve those goals.

Next, look at legal and estate planning. Depending on your individual circumstances, your plan can be relatively simple or complex, but should be tailored to your needs and objectives. At a minimum, make sure that you:

  • Create a complete estate plan. That includes a Living Trust, a Living Will, Durable Powers of Attorney, and Healthcare and HIPAA Power of Attorney;
  • Designate guardians for minors and dependents;
  • Create written instructions for locating important documents, like your attorney and CPA, insurance policies, bank accounts, and other financial assets;
  • Designate your retirement plan, 401(k), and IRA beneficiaries; and
  • Make funeral arrangements, whether pre-paid or pre-planned.

Your comprehensive estate plan should ensure that your assets are distributed how, when, and to whom you say. This can relieve loved ones of the stress and emotional impact of making difficult financial and medical decisions on your behalf, if you’re unable to do so because of incapacitation.

Now that your financial and legal health has been addressed, don’t neglect your physical and emotional health and well-being. Make sure to have annual checkups with your doctor, and include a fitness evaluation. The chances of your living a longer, healthier and more rewarding life are more possible today than ever before. One of my favorite clients used to joke with me when I would ask, "How are you?" Here response would be some joke and "The first 100 years of your life are so hard."

Do you live in Miami-Dade, Broward, or Palm Beach counties in Florida? Laws are constantly changing-- has your estate plan been reviewed in the last 2-3 years? Call me (954-888-1747) right away for peace of mind. I can help!

  • My practice is exclusively estate planning and probate,
  • I have prepared numerous estate plans in 16 years of practice,
  • I have administered estates and trusts through Probate all over Florida,
  • I am a Certified Financial Planner Professional™, and
  • I am here for YOU today and there for your FAMILY tomorrow.

Reference: Forbes (March 31, 2017) “You May Live Longer Than You Expect: Are You Prepared?”

Testimonials
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Why would we recommend D.T.F.? Several Reasons: Your ability to explain complex estate problems, clearly and patiently; your total lack of arrogance and pretense; a strong feeling that you are motivated by what you perceive is best for your client, rather than what would generate the largest legal fees; finally, and importantly, you are a lovely guy. A.C.
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Two words cannot sum up the entire process of creating my “trust.” I enjoyed your attention to detail, your patience of explaining terms and conditions until I understood, also giving me copies to read and understand. Thank you for your suggestions on what was best for “me” but still allowing me to make my choice. Most of all, thank you for thinking of “me.” Wells Fargo said “you were the best” I cannot deny that. Again thank you very much for everything. Anna is an asset or a compliment to the firm. She is warm and very caring. It was great doing business. Thank you.

P.M.