Elder Care Attorney, Mindy Felinton writes about how a good retirement plan should be comprehensive and include an estate plan and also explains that the most important asset everyone has when it comes to retirement planning and misuses is time.
(Gaithersburg, MD) Delray, FL April 25, 2020: Mindy Felinton, founder of Felinton Elder Law & Estate Planning Centers, has posted a new blog on her law firm’s website entitled “The Difference Between Retirement Planning And Estate Planning.” Ms. Felinton explains that both are necessary.
Felinton writes, “Most people understand the concept of retirement planning as it relates to the money you’ll have to live on after you reach a certain age and leave the work force. However,” she adds, “many more people are unaware of the importance of estate planning and fail to plan. Estate planning is about how you will be cared for in the event that you become incapacitated and how your estate will be handled when you die.” She continues, “When most people hear the term “estate plan” they think this is only for the very wealthy. Not so.”
According to Felinton, “Anyone who has worked throughout their life and has been funding a 401k plan, owns a home and other assets needs to have an estate plan. In fact, retirement planning should include a comprehensive estate plan.”
“In my experience as an Estate Planning & Asset Protection attorney,” says Felinton, “the biggest mistake I see people make over and over again is not taking advantage of the asset of time. Many people mistakenly believe they’ll have plenty of time for retirement planning once they buy a home, put children through college.” She goes on to point out how that line of reasoning leads to chronic procrastination.
The entire blog can be read at https://www.felintonlaw.com/the-difference-between-retirement-planning-and-estate-planning/
About Mindy Felinton
From a young age, Mindy wanted to be the voice that would make an impact in people’s lives. She became an attorney and has practiced law for over 30 years, so that she could fulfill her desire to help others. As a special prosecutor, Mindy defended the underdog (literally) in cases of animal abuse. As a state attorney in Florida she fought for justice. During the last 25 years, Mindy met many wonderful people who did not know their rights, did not understand the law, and did not know what options were available. She made a decision to focus her practice on Elder Law, Medicaid, Veterans’ benefits, and Estate Planning. Thus she is able to guide her clients through those difficult and sometimes overwhelming processes.