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Largo Office Wells Fargo Building
801 West Bay Drive, Suite 518
Largo, FL 33770
Phone: 727-683-1483
Toll Free: 866-499-3322
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28870 U.S. Highway 19 North,
Suite 300
Clearwater, FL 33761
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Retirement Information You Must Address in Your Estate Plan

When you develop your estate plan, you should factor in not just what you need to do to protect your assets and property after you pass, but also what you need to do to enjoy the rest of your life and have a comfortable retirement.

To that end, below are some elements related to your retirement you must address as you work on your estate plan:

  • Minimum required yield: Minimum required yield is based on factors like household income and investable assets, such as IRA balances, taxable brokerage account balances and various other savings vehicles. The higher the required percentage of investment, the greater the income risk. It’s important to limit that risk as much as possible.
  • Income reliability: Can you rely on steady paychecks until your retirement, and then will you have a reliable income — such as through pension or retirement account withdrawals — during your retirement?
  • Liquidity: How easily can your investments be converted into cash? Once you have reached retirement, you’ll want to convert most of your investments into money you can use. This is also an important factor to consider if there is any chance you will suddenly need to liquefy some of your investments before your retirement. It’s always good to know how available your wealth will be when you suddenly need it.
  • Ease of transferring to your spouse: How easy is it to transfer investments and retirement accounts to your spouse to manage if he or she should live longer than you? Spouses should be fully prepared for everything they need to do to get these investments and accounts in their name to continue managing them.

For more information on planning for your retirement and your estate, speak with a skilled Florida estate planning attorney at The Charles Law Offices.

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