Planning for your retirement and planning your estate can turn out to be a real benefit.
Estate planning and retirement planning are pretty much the same thing. Sometimes, if your estate planning attorney and financial advisor work together, both types of plans work better for you, according to TD Ameritrade in “Estate Planning: Build Up, Draw Down, Distribute Balance.”
A comprehensive plan helps determine how you are going to build up your account balances to have more than enough money for your retirement. It also ensures that your assets are held in the best possible way for your future estate.
The plan takes into consideration how you will draw your assets down during retirement to make sure you leave something for your heirs, if that is your decision.
Finally, the plan determines the best way for you to pass the remainder on to your heirs.
If you do things properly, then you will have enough for your needs and your heirs will have plenty after you pass away.
An estate planning attorney can guide you in creating an estate plan that meets both your retirement and estate planning goals.
Reference: TD Ameritrade (July 19, 2017) “Estate Planning: Build Up, Draw Down, Distribute Balance.”
