Ranking Estate Planning at the Bottom of your To-Do List is a Big Mistake!

To doYou're probably well aware of the need to orient your investments toward retirement, but you might be less aware of the need for an estate plan. "I think that on a list of things to do, it's at the bottom, if it even makes the list," Nicole Hart, director of trusts and estates at Sontag Advisory, a financial planning firm, tells USA Today retirement columnist Rodney Brooks.

When doing an estate plan, the article on newsmax.com, titled USA Today: Don't Neglect Estate Plan as Part of Retirement Strategy,” offers some sound advice:

  • Make sure an estate planning attorney examines every major financial document;
  • Sign a healthcare proxy, living will and power of attorney; and
  • Discuss all estate issues with your family, even if it’s uncomfortable

"Estate planning is intertwined with the financial plan," the article explained, and it’s no secret that many individuals fail to prepare for retirement. Those that do plan on their own make some major mistakes, and here are two:

  1. Skimping on savings. The article cites a recent retirement survey in which about 50% of the near-retirees who were asked what they could have done to better prepare for retirement said they should have saved more. The more and earlier you start saving, the more your money can grow.
  2. Overpaying for investments. The more you pay in investment fees, the less you have to benefit from compounding.

"The costliest errors are ones we make ourselves, often without realizing how much damage we're doing," the author notes.

You can learn more about this topic as well as other strategies on our website under the tab entitled: estate planning in Virginia. Be sure you also sign up for our complimentary e-newsletter so that you may be informed of all the latest issues that could affect you, your loved ones and your estate planning.  Why not call us for a complimentary consultation at 757-259-0707.  

 Reference: newsmax.com (April 10, 2015) USA Today: Don't Neglect Estate Plan as Part of Retirement Strategy”

Like this article?

Share on facebook
Share on Facebook
Share on twitter
Share on Twitter
Share on linkedin
Share on Linkdin
Share on pinterest
Share on Pinterest

Leave a comment


We have a LOT more where that came from!

We hate spam too. We will never share or sell your information.

Call Now ButtonCall Us Now https://jsfiddle.net/7h5246b8/

Request a free consultation

We hate spam too. We will never share or sell your information.

We've been putting together as many resources as possible so that we can continue to help:

  • If you’re a current client with a signing appointment or a prospective client with a consultation and would prefer that meeting take place in your own home, we can accomplish that with a little bit of pre-planning on our part and with the addition of a laptop, smartphone, tablet or other computer in your home to facilitate this virtual meeting. For those of you that need to sign legal documents, that too can be accomplished with the use of a webcam (FaceTime etc.), so that we can witness and electronically notarize all of your important legal documents.
  • We launched the rollout of our on-demand webinar early so that new clients and our allied professionals can view the important component parts of ‘an estate plan that works’ at their convenience.  That is available on our website.
  • Live video workshops will be produced as quickly as possible and certainly ahead of our previous schedule; we will keep you posted as these events become available. Given the ‘boutique’ nature of the firm, we rarely have more than ten people in our office including team members at any one time. During this period of ‘social distancing,’ we promise to have no more than 8 people at any time.   This allows us to comply with the Governor’s directive to limit in-person gatherings.
  • The best way to communicate with us is still by phone during regular office hours of 8:30 to 5:00, Monday through Friday, or, you can email any of our team members (that is, their first name followed by @zarembalaw.com).  We will respond to these emails as quickly as possible.
  • Please continue to follow the directives of our local, state, and federal agencies. For your health and in consideration of our team who is assisting you, if you’ve scheduled an office appointment or planned to drop off paperwork and are experiencing a fever, dry cough, or shortness of breath, please contact your primary care doctor for guidance and then our office to reschedule.

Thank you, Walt and the Zaremba Team

Update to our Process

The unprecedented coronavirus pandemic has taken our entire country by surprise. We understand how difficult this time is for America’s businesses and families.  However, we believe it is vitally important that we make every effort possible to continue to offer solutions that avoid disrupting our important partnership with you, your family and friends.  As you know, estate planning is not something that should wait for a more convenient time, therefore the opportunity to address your important goals both during and after this crisis should not wait.  To that end, we have added the option of a ‘virtual consultation’ to our office process.  You will now have a choice of either meeting with us in our office or in the comfort of your own home.