People do not always retire when they plan on it, and an unplanned event that causes an early retirement will have estate planning implications. This article discusses the steps that people should take if they find themselves in a situation where they are unintentionally retired. Planning for a surprise retirement event should include making good choices with assets, developing a tax-smart withdrawal strategy, and developing a budget to plan on living within means. This article discusses things that retirees will need to know about health savings accounts and both traditional and Roth IRAs. There are many different circumstances that could cause a person to retire early that ranges from being laid-off or having to retire due to some type of medical disability. Each of these different situations will require a unique estate planning and retirement strategy.
See Unplanned Early Retirement?, Forbes, February 5, 2016.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
