Ep. 2 – How to Connect Your Retirement Plan & Estate Plan

Welcome to the weekly Retirement in Action segment of our show! Every week Radon and Murs will take an interview or topic discussed recently on the show and talk about the points that can be put into action!

Radon and Murs break down their thoughts and answer questions brought up from the interview with estate planning attorney, Chess Griffin.

On this Episode:

• Radon and Murs break down their thoughts and answer questions brought up from the interview with estate planning attorney, Chess Griffin.
• Radon and Murs discuss the reason for having multiple layers of beneficiaries in estate planning. 
• Radon stresses the importance of a team approach by working with the key advisors- your financial advisor, your estate planning attorney, and your CPA- in a cohesive plan. 
• Radon and Murs discuss how they handle the retirement income plan in regards to helping or loaning money to a child.

Key Takeaways:

• The three parts to an estate plan are the will, durable power of attorney, and healthcare power of attorney. The most important is making sure you have a durable power of attorney. 
• Due to changes in the law, clients with an IRA are now often listing individuals as their beneficiary rather than a trust. 
• Estate planning attorneys should be a part of the retirement process from step one.

Your estate plan should be:

• Well documented 
• In an easy place to find
• Shared and communicated with all involved with your plan (financial adviser, estate attorney, and CPA) 

Resources:

If you are in or nearing retirement and are looking to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting the complimentary video course, Four Steps to Secure Your Retirement. To access the course, simply visit POMWealth.net/podcast.

To receive a free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on iTunes and send a screenshot to morgan@pomwealth.net.