LegalJourney Blog

Monday, February 22, 2016

Estate Planning vs. Retirement Planning

What is the difference between estate planning and retirement planning?

Estate planning and retirement planning are closely related, and for this reason many people mistakenly believe that they are the one and the same, but it is important to remember that there are differences between them. Retirement planning relates to the time you will have after reaching a certain age and exiting the work force. Estate planning, on the other hand, relates to a time that you either become incapacitated or die. Retirement planning is broader and should include a comprehensive estate plan.

When you are planning for retirement, you are considering a time when you are no longer working, or are working very little. This means that you must examine how you will support yourself without the income you are currently receiving from your job. This might include Social Security payments or a pension. You should also think about how your healthcare needs will be met when you are no longer receiving benefits from your employer. Many like to consider how close (or far) they would like to be from family and friends during this time and how they will spend the time that they would previously have devoted to working. Remember, retirement planning should also include contemplating what type of estate plan you would like to put together.

Estate planning is very different from retirement planning. Estate planning relates to a time when you are either incapacitated or deceased. This means that you must give serious thought to what type of medical care you would like if and when you are unable to make decisions for yourself, and how you would like your assets to be distributed after your death. It also means speaking with an attorney to put your plan into effect.

While retirement planning is something you can do with the help of a financial advisor, only a qualified attorney can assist you with estate planning. Contact a qualified Tampa, Florida estate planning attorney to represent you today.


Archived Posts

2017
2016
December
November
October
September
August
July
June
May
April
March
February
January
2015
2014
December
September
August
July
June
May
April
March
February
January
2013
December
November
October
August
July
May
April
March
February
January


Attorney Karnardo Garnett represents clients with their Estate Planning, Elder Law and Asset Protection needs throughout the Tampa Bay Area, serving all of the bay area, including but not limited to Tampa, Brandon, Clearwater, St. Petersburg, Gibsonton, Riverview, Oldsmar, Safety Harbor, Hillsborough County, and Pinellas County, FL



© 2017 LegalJourney Law Firm PLLC | Disclaimer
2002 W. Cleveland St, Tampa , FL 33606
| Phone: 813.344.5769 | 888.954.5769

Estate Planning | Estate Planning - Spanish | Elder Law/Medicaid Planning | Elder Law/Medicaid Planning - Spanish | Planning for Children | Planning for Children - Spanish | Probate / Estate Administration | Guardianships | Special Needs Planning | Estate Tax Planning | Estate Litigation | Estate Litigation - Spanish | Asset Protection

Attorney Website Design by
Amicus Creative


© LegalJourney Law Firm | Disclaimer | Attorney Website Design by Zola
2002 W. Cleveland St, Tampa, FL 33606 | Phone: 813.344.5769