Ric Edelman: Hi! I am Ric Edelman. Thinking about retiring? Review your estate plan before you retire. Don't have a will? Get one. You also need a living will and a durable power of attorney, as well as an executor. A Will will explain who gets your property and it needs an executor to make sure that it all happens.
If you die without a valid Will or a living trust, then state law dictates who gets your assets. A living Will tells family members and healthcare providers how you wish to be cared for should you become severely ill. A durable power of attorney let's you select someone to make your financial decisions on your behalf if you're incapacitated. I know these aren't pleasant topics but they are dangerous to ignore. You can avoid a lot of heartache for your family if you get an estate plan. So, is your estate in order?