Whether you’re married, single, or remarried, you’ve got to have an eye towards your own future as a female. Estate planning, financial planning, and asset protection planning are all part of your retirement strategy and connect with how you’ll support yourself in your golden years.
Many women have to look decades beyond their retirement when it comes to their plans given data on longevity and forecasts about the expense of long-term care.
A recent study incorporating insights from high net worth earners found that women ranked themselves highly on their ability to perform a range of financial tasks but diverged from men when it came to their top two current financial goals. Executive women reported that their top goal was to know that they were prepared for the worst and planning for retirement. However, male executives said that providing for future generations and taking care of their dependents financially were two of their top three financial goals.
Plenty of women today recognize that they might live longer than their male partner, or that they could be affected by the phenomenon of grey divorce which would significantly impact their retirement planning goals. Furthermore, women might be recognizing the possibility of needing long term care support which can be quite expensive and can decimate an otherwise carefully crafted retirement plan. If you want to look ahead into the future to prepare yourself for your estate and the possibility of long-term care, schedule a consultation with an experienced estate planning lawyer today.