How to
avoid fumbling the football in the red zone of retirement
The 6 documents you need for your estate
plan playbook
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[July 01, 2014]
The start of football season may
be months away, but the game’s on the minds of many after the NFL
draft. Minicamps are gearing up and team personnel are organizing in
preparation for the 2014-15 season.
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Football is a big deal in the United States – and so is the surge of
retirees – 10,000 baby boomers every day for the next 18 years, says
multi-certified planner Larry Roby. The last thing pre-retirees want
to do at this stage of their lives is to fumble while in the red
zone of their retirement date, he says.
“Only 23 percent of pre-retirees have calculated how much they’ll
need to save for retirement, according to New Retirement Landscape;
while three-quarters say they’re confident in the red zone of
retirement, an equal amount of people haven’t even done the math
yet!” says Roby, founder and president of Senior Financial Advisors,
(www.sfabridge.com , a wealth-management firm that holds ethics and
education as top priorities.
“Confidence in your retirement portfolio is good – if it’s
justified. Otherwise, it can lull people into a false sense of
security and lack of preparedness.”
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Having a diverse portfolio and understanding your options for life
insurance, Social Security and 401(k) or other retirement accounts
are staples for retirement planning. But there are also six crucial
documents that are often either not in an individual’s playbook or
are overlooked.
Here are the six documents you need for a solid red zone estate
plan:
Joint Ownership - Enables you to own property jointly with
another person and upon the death of the joint tenant, the surviving
joint tenant automatically becomes the owner of the property.
Last Will and Testament – A legal document which expresses
the wishes of a person concerning the disposition of their property
after death and names the person who will manage the estate.
Durable Power of Attorney – Grants authority to another
individual to act on behalf of the person who executes the
instrument and are commonly used for legal and financial purposes.
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![](http://archives.lincolndailynews.com/2014/May/29/images/ads/current/stclara_lda011413.png) Durable Health Care Power of Attorney-
Grants authority to another individual to make health care decisions
on your behalf should you be unable to make such decisions.
Advance Care Directive – A set of written instructions in
which a person specifies what actions should be taken for their
health, if they are no longer able to make decisions due to illness
or incapacity.
Living Trust – Created during your lifetime. Assets are
transferred to the trust while you are alive. Provides written
instructions for the disbursement of the trust assets upon your
death.
“These documents can play a vital role in the major plays during the
fourth quarter of your life,” Roby says. “Understanding how they
work now can make the difference between a last-minute victory or
loss.”
[Text received; GINNY
GRIMSLEY, NEWS AND EXPERTS]
About Larry Roby
Larry Roby is the founder and president of Senior Financial
Advisors, (www.sfabridge.com). He is a four-year member of the
Million Dollar Round Table and has achieved “Court of the Table”
status for the past three years. Roby attained his Series 65
license, which allows him to serve as an Investment Advisor
Representative. He is also a Registered Financial Consultant,
IARFC.org; RICP, Retirement Income Certified Professional; Licensed
Insurance Agent and MCEP, Master Certified Estate Planner –
NICEP.com.
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