To most people, estate planning is about planning for their financial futures. However, a comprehensive estate plan involves more than just putting money in a 401(k) or drafting a will. It encompasses all of the things needed to help a person enjoy their retirement. As such, future retirees will need some assistance planning for the non-financial aspects or retirement. This post will identify some of these elements.
Medical care – Aside from your health premiums, choosing a medical practitioner is an important, non-financial decision. It is helpful to keep someone you feel comfortable with, and who you trust with personal information about your health.
Health goals - Indeed, access to medical care is important, but maintaining a healthy lifestyle is paramount to one’s well-being. Keeping up with a nutritionist, a chiropractor, or physical therapist can go a long way toward maintaining your health goals.
Marriage and relationship counseling – This non-financial aspect is critical for people who are leaving long-term, committed relationships, or in the midst of cultivating new ones. With baby boomers divorcing in greater numbers, this aspect of retirement planning cannot be ignored.
Career/Life planning – The notion of working for one company for an entire professional life, then retiring and living solely on a pension and Social Security income is a thing of the past. Today, many people (while considering themselves retired) still look for ways to supplement their income. A career planner is the ideal person to help with these decisions.
If you have questions about how these aspects can fit into your estate plan, an experienced attorney can help.