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Retirement security focal point of recent GAO study

| Oct 24, 2017 | Uncategorized |

There are certainly lots of reasons why a motivated individual or family might want to get started on implementing a sound estate plan to prepare for the future.

Addressing uncertainty regarding health concerns might be one of them. Perhaps one or more loved ones have special needs that can be optimally addressed through a trust and/or other planning vehicles. Lawful tax avoidance can be a big issue for some families, especially those with a comparatively high level of assets. Gifting, establishing a family legacy, dealing with a business, resolving inheritance questions, — these and many other matters can be taken care of by working in concert with a proven estate administration attorney in a timely and focused way on planning strategies that promote best interests.

A recent report authored by the independent U.S. Government Accountability Office stresses yet another motivation spurring many Americans to become proactive in estate planning matters.

Namely, that is the promotion of retirement security, a goal that is implicitly advanced when action is taken toward achieving any of the goals stated above in this blog entry.

Obviously, legions of Americans dwell increasingly on security concerns as they progressively age. That is only natural in the wake of working careers and approaching uncertainties.

The GAO makes a simple point concerning that, which is this: Many persons approaching retirement or already in that status are financially unprepared for that plateau. Government researchers say that traditional sources of income — specifically, individual savings, employer retirement plans and Social Security — will collectively “not provide adequate retirement security for a growing number of people.”

That uncertainty can be met head on through candid communication with a proven legal professional who helps diverse clientele financially prepare for the future.

The future can indeed seem a bit shaky at times. Sound and well-tailored planning can help to render it more certain.

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