Estate & Retirement Planning Checklist

Submitted by: Integrity Retirement Solutions

"I Have Everything Taken Care Of!" ... Or Do You?

Legal Documents

• Do you have a Power of Attorney, and does it contain the correct language?

• Do you have a Will in place?

• Do you have a Living Will or Physician's Directive?

• Do you need a Revocable Trust or Irrevocable Trust?

  
  

Beneficiary & Account Review

• Do your Will instructions match the beneficiary designations on: 401(k)/IRA, Life insurance & annuities, Bank accounts (POD, TOD, ITF), Brokerage accounts?

• Do you understand that your Will does not control accounts with beneficiary designations?

  
  

Financial & Care Planning

• Do your advisors understand the true costs of care (independent living, personal care, assisted living, memory care, skilled nursing, in-home care)?

• Do you have a plan for covering the average healthcare cost in retirement ($330,000+)?

• Do you have a strategy for long-term care costs (up to $12,000+/month for skilled nursing or $23,000+/month for 24/7 in-home care)?

• Is your "idle money" being leveraged to help with care costs, earn a fair return, and remain accessible if needed?

  
  

Probate & Taxes

• Have you taken steps to avoid or reduce probate costs (typically ~5% of estate value)?

• Have you planned for inheritance taxes (4.5%-15% in PA)?

• Did you know inheritance taxes can be optional with proper planning?

• Have you reviewed strategies to reduce or eliminate taxes on 401(k), IRA, and retirement accounts (which can shrink legacies by 45-54%)?

  
  

Legacy Protection

• Have you created a plan to ensure your heirs receive the maximum benefit, rather than leaving a large share to Uncle Sam and probate courts?

  
  

  Do you have a process in place to review and update your plan regularly? Tip: Most people who think they have "everything taken care of" are missing multiple steps. Working with qualified financial and estate planning professionals ensures nothing is overlooked.

Contact Integrity Retirement Solutions!

IntegrityRetirementSolutions.com

724-837-3553

Kevin Bock does not provide legal or tax advice. Guarantees are backed by the financial strength and claims paying ability of the issuing insurance company. A broad range of retirement solutions and insurance products are offered through Kevn Bock, PA insurance license number 352896