Many people took a step back and looked at their overall plans and projections for the future during the pandemic. A recent study from TIAA found that saving for retirement is the top financial goal for employees, but over half of workers recently surveyed determined that the pandemic significantly or somewhat increased their overall stress level about being able to afford the lifestyle they intended when they wanted to retire.

Have your retirement plans changed? Do you need to communicate with your estate planning lawyer about updating your existing documents, strategies, and asset protection plans?

This highlights the importance of looking holistically at your estate and financial planning strategies. Some employees were generally satisfied with the retirement offerings provided by their company, but were also interested in other opportunities, such as guaranteed lifetime income annuities. Planning ahead for retirement requires careful consideration of many different aspects of your future, such as what you intend to leave behind for loved ones, what might happen to your assets if in the event that you need significant health care support, and whether or not you intend to accomplish any philanthropic goals with your estate planning strategy.

All of these circumstances may shift over the course of your life, and the makeup of your family will also influence your estate planning goals. Having an established relationship with an experienced and knowledgeable estate planning attorney is one of the best ways to verify that you have an estate plan that adjusts as needed to your personal goals. Schedule a time to meet with a knowledgeable and dedicated attorney for your California estate today.

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