Estate Planning Definitions
Educating ourselves on the varied aspects of retirement challenges and opportunities including planning for the business of the end of our lives is what we need to retire well and enjoy living in our next new adventure.
Living Will and Durable Power of Attorney
A Living Will is an advanced directive giving doctors and hospitals expressed instructions regarding how you want your health care treatment handled. In the event of incapacitation or an irreversible coma and you are unable to articulate your desires, a Durable Power of Attorney can act on your behalf, while you are still alive, ensuring your wishes are carried out.
Estate Plan: Living Trusts
Until about 20-30 years ago Living Trusts were thought of as planning tool strictly for the wealthy. Today that is no longer true as the Living Trust is becoming more popular with the because of the tax and privacy advantages offered.
Wills: Other Tips
As a Federal Employee, your benefits taken into retirement or otherwise are not bound by your Will.
Probate
Probate is yet another aspect of our legal system. When an attorney represents your Will before the Courts, it must go through probate and this can sometimes last for 9 months and maybe longer.
Will: (Last Will and Testament)
The Will is the nucleus of the estate plan. From the Will, everything else emanates. Your Last Will and Testament spells out all of your wishes. It details how you want your assets and resources distributed and how your loved ones who depend on you will be taken care of.
Estate Plan
The Estate Plan will outline what is to happen to everything you have accumulated including your health care matters
Estate Planning: Preparing For ‘End of Life’ Business
Preparing one’s self for the end of life business is both frightening and intimidating. Yet, it is something we must all do sooner or later. Getting prepared is one way of taking the fear and anxiety out of preparing for ‘End of Life’ business.
LiteBlue: What Postal employees should do on LiteBlue Before Retirement
The information that is currently available to you on LiteBlue will be gone after your separation. Once you leave service LiteBlue will no longer be available to you, so be sure to download the following list from LiteBlue so you can maintain your own records.
Are Federal Employees Prepared To Retire?
Although federal employees continue to retire, it is increasingly evident that they are not prepared to retire. The culprit is not only an economic one, but a lack of understanding of how their benefits really work.
