Estate Planning: “Plan Ahead and Prepare for Applying for Social Security Retirement Benefits”

Estate planning involves consideration of both assets and income. For many people, Social Security retirement benefits are a major piece of the retirement puzzle.  Whether you’re single or married, when and how you retire may significantly affect your monthly income.  Understanding those choices is important for thoughtful, informed planning.

I noticed an article in nextavenue.org a few weeks ago discussing three options or “strategies” that couples can use when they’re ready to retire and thinking about how to maximize their social security benefits. In that article, nextavenue.org also included a helpful checklist for preparing to apply for Social Security benefits. Both can be helpful tools in helping you consider your choices.

Your financial advisor and/or your attorney can also provide even more information and may assist you in navigating through your needs depending on your unique circumstances and goals. In anticipation of seeking professional advice, this nextavenue.org checklist will get you thinking about the right things:

http://www.nextavenue.org/article/2013-08/preparing-social-security-7-point-checklist

And, this article, also from nextavenue.org expands on some of the options addressed in the checklist.

http://www.nextavenue.org/article/2014-02/social-security-%E2%80%98split%E2%80%99-pays-couples?utm_campaign=Feb.20.2014.Newsletter_NA&utm_medium=email&utm_source=Eloqua

It’s never too early to think about how you would like your retirement years to look. Don’t be afraid of thinking about the future – even if it doesn’t end up quite as you imagined, a thoughtful plan can be flexible right along with your changing needs and circumstances.

ALL READERS:  This blog is not, nor shall it be deemed to be, legal advice or counsel. This blog does not create an attorney-client relationship with any reader.  It is designed to encourage thoughtful consideration of important legal issues with the expectation that readers will seek professional advice from a licensed attorney.