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Where there’s a Will, there’s a Way
Posted By:  Norm Falick
Saturday, December 3, 2016

In planning for retirement, it’s easy to spend a lot of energy on calculators, 401k plans, and insurance, but there are other steps we need to take as well.  Wills and living wills are vital parts of long term planning that are often overlooked.


Still putting it off?  Here’s some food for thought:


o   A will is usually not costly, but it is one the simplest documents used for estate planning


o   If you already have a will, review it every three years or whenever there are significant life changes


o   Get a living will as well – it will reflect your wishes regarding your care in case you are unable to speak for yourself


o   A will and living will aren’t just for your peace of mind, it can provide security for your family as well


o   Everyone has a pre-made will.  It's called state probate laws that designate where your assets go when you die.  The problem is, you may not agree with their ideas.  Your own will can redirect your property they way you want, not what the state says.  Example:  Mom and Dad, of course, want their assets to go to their children.  Mom dies.  Dad now has all their assets.  Dad remarries a woman with children from her previous marriage.  Dad dies intestate—without a will.  All of Dad's assets, according to the state, go to Dad’s new wife.  She, in turn, leaves all her assets to her children, Dad's children get nothing.  If Dad had a will he could have specified how much his own children get and how much his new wife gets, if anything.


There are many decisions and plans to be made, but wills are one of the easiest ways you can provide certainty for the unpredictable future.  For more retirement financial advice or schedule an appointment, contact us today.


Blog Categories

  • Retirement
    • 01/26/2017 - Retirement Planning for Millen
    • 12/29/2016 - Happy Holidays!
    • 12/03/2016 - Where there’s a Will, there’s
    • 10/07/2016 - Smart Retirement Strategies fo
    • 09/08/2016 - Should You Use Savings to Pay
    • 08/04/2016 - How Much Income Do You Want fr
    • 07/14/2016 - Smart Retirement: Set Up a Liv
    • 06/15/2016 - Get Smart About Retirement

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Norm Falick    Norm Falick has been a real estate broker and
founder of Camargo Realty, business owner and
founder of Prographics Printing, Series 7 Financial
Advisor at Merrill Lynch, and has been planning
retirements for over 20 years.


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