Even people who like to make detailed plans about everything else, are often tempted to put off estate planning for as long as possible. It is just human nature to prefer not to think too much about what will happen to our worldly possessions, after we pass away.
It can be difficult to imagine our things and our loved ones having a life after us. This leads to estate planning procrastination.
Truthfully, that is never a good idea. You do not know when you will pass away. It can happen suddenly and sooner than you want.
However, if you do procrastinate when it comes to your estate planning, you should know that the procrastination needs to end at some point.
This point was made by the Twin Cities Pioneer Press in "3 moves you should make in the first 3 years of retirement."
If you have managed to put off estate planning until after you have retired from work, then now is the time to stop putting it off.
With any luck, you will still live many more years. On the other hand, estate planning is about more than just deciding what happens to your possessions and assets after you pass away.
It is also about securing your own final years and making sure you have powers of attorney and advanced health care directives in place, should you ever need them.
In the end, estate planning gives you peace of mind in knowing that your family will be okay after you pass away and that you will also be okay, should you ever need help.
If you have retired and still have no estate plan, then talk to an estate planning attorney as soon as you can.
Reference: Twin Cities Pioneer Press (June 17, 2017) "3 moves you should make in the first 3 years of retirement."