Estate Planning for Those Aged 40-60

If you're in the 40-60 year age group, with retirement and adult children in sight, take the opportunity to estate planning for those aged 40-60 years of ageput some valuable thought into your estate planning matters. By this time you've probably amassed some wealth to a lesser or greater extent, and you may have children who have left home, but are still dependent upon you in one way or another. Being in this age group can mean you are "sandwiched" between generations of family members you care for, and can bring special concerns that should be addressed.

Factors to consider include:

  • Over Age 50 - Utilize “catch up” contributions allowed for retirement plans
  • Re-evaluate provisions of Last Will & Testament
  • Living Trust - for asset protection, medicaid eligibility, providing for beneficiaries, and/or avoiding probate/succession after death
  • Power of Attorney from college bound children to yourselves so that in the event of difficulty the university will deal with you, you may make medical decisions if an emergency arises, and so that you may transact your child’s business as necessary
  • Powers of Attorney for yourselves (Significant numbers of heart attacks, cancers, and other debilitating illnesses appear in this age group)
  • Long Term Insurance (Home/Nursing Home care)
  • Extinguish debt


We can help with these issues. Contact Us for more information.