Love doesn’t have to be romantic – sometimes, the most practical endeavor shows how much you truly care about another person. Retirement Tip of the Week: Make sure the people you love the most are taken care of if you’re not there, and get all of your estate plans in order.
An unexpected event like a sickness or accident can change a family forever. When that happens, having a solid estate plan in place — or even just the most important documents written — can make a huge difference to people already suffering. There’s also no minimum age to get started. Even the youngest couples or families should get themselves in order, whether they have a few hundred thousand dollars in the bank or just a few hundred dollars. Documents are the basics, but they’re incredibly impactful. They include a healthcare proxy, which appoints someone to make life-altering decisions in the event of incapacitation. There’s also a will, well-known for listing out last wishes and most importantly, dictating who will care for children if one or both parents have died. Powers of attorney can take control of financial or life situations depending on how they’re written, and guardianship designations are another way to ensure the proper person is caring for a loved one. Have a question about your own retirement concerns? Check out MarketWatch’s column “Help Me Retir …