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Dorothea J. Kingsbury Estate Planning & Probate Attorney

Unexpected events and retirement

There are a lot of expectations a person may have about their retirement. Sometimes, reality ends up deviating quite a bit from such expectations. There are many different unexpected events that might occur during a person’s retirement or in the time leading up to it.

Such events could impact many different things, including a person’s financial situation during retirement. This doesn’t just have the potential to affect a person’s retirement goals. It could also impact things like their long-term goals related to their assets and their family.

The list of unexpected events that can have financial impacts regarding a person’s retirement is a long and diverse one. A recent CheatSheet article gave some examples of such events, including: natural disasters, economic changes, law changes, pension cuts, fraud, illness, incapacity, new family care needs arising and divorce.

The potential for such unexpected events to occur in retirement can raise some special estate planning considerations. For one, there are some estate planning steps that may be able to provide a person and their family some protections related to the potential effects of such events. For example, planning can be done for the possibility of having major long-term care needs in relation to a future illness. Estate planning lawyers can give individuals guidance on what sorts of protections they could put into their estate plan.

Also, some unexpected events in retirement can alter what estate planning goals a person has or how well-matched their estate plan is to their goals. So, sometimes, such events can give rise to the need to update one’s estate plan. Retirees can go to skilled estate planning attorneys for guidance when they have questions regarding whether they should make any changes to their estate plan in a light of a recent unexpected event.

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I am attorney Dorothea J. Kingsbury. I provide good advice and real solutions to challenging problems. I can help you choose and personalize estate planning instruments that meet your family's present and future needs. I can develop elder law strategies that ensure proper care for your loved ones. I can guide you through the probate/estate administration process when a family member has passed away. I can help make sure your interests are protected during your real estate transaction. I am here to make things easier.

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