Getting close to the point of retirement and thinking about it within the next five years should prompt discussions with these individuals about their next steps as it relates to estate planning, investing and retirement planning. It’s hard for anyone to plan for the future, but it becomes all the more important as longevity in the U.S. is increasing. This means that you not only need to think about retirement, but you need to be prepared to fund a potentially long retirement and consider how long-term care issues may also influence your situation.
However, according to research from Hearts & Wallets, more than 5,000 adults shared that they are uncomfortable with the prospect of estate planning. A full 26% of the individuals who participated in the study said that estate planning was very difficult or somewhat difficult for them. This represents an increase of 2 percentage points since the previous years’ study asking the same question. Despite recognizing that estate planning was a worthwhile endeavor to explore, only 8% of retirees and pre-retirees admitted that they had sought help for estate planning in the previous 18 months.
Not getting help for estate planning can easily be avoided because you’re uncomfortable thinking about your own mortality or feel as though the issues don’t apply to you. However, everyone can benefit from comprehensive and aligned estate planning. Reach out to an experienced New Jersey estate planning attorney today to learn more about what’s right for you. Send us an email to email@example.com to learn more.