The #1 Estate Planning Tip for Baby Boomers

We’ve had the opportunity to cover many different and important estate planning topics on the blog, but it can overwhelming to determine what actually needs your attention. Most individuals need at the very minimum a basic estate plan.

Gone are the days, however, when that basic estate plan covers all of your needs. For years, the primary focus of estate planning has been about how to handle your assets after you pass away. Definitely a worthy cause, it’s not the only thing that should draw your attention in the estate planning process.

Baby boomers in particular, who are entering retirement to the tune of 3.5 million people every single year, must consider life planning too. This is because longevity is on the rise. In the year 2050, it is estimated that one out of every five people will be over age 65. During that same time period, the fastest- growing demographic in the country will be those 85 and over.