Already Retired Protecting Your Assets

A basic estate plan is all many people need to ensure that their affairs are in order. At the very least, you should ensure you have the following documents assembled and kept updated.


Will: Legally enforceable, this is a declaration of how you wish your property to be distributed after your death.

Power of Attorney (POA): A legal document designating someone of your choosing to act on your behalf in specified legal or financial matters, particularly if you're unable to do so yourself.

Living Will: Sometimes referred to as a Healthcare Proxy or Medical POA, this written statement details your medical treatment wishes in the event that you're unable to express informed consent.

Trust: An agreement in which assets are transferred from a grantor to a trustee for the purpose of benefiting one or more beneficiaries.

A great first step to the estate planning process is to take inventory of all your assets, including investments, retirement savings, insurance policies, real estate and business interests. Next, determine:

  1. Whom do you want to inherit your assets?
  2. Whom do you want handling your financial affairs in the event you're incapacitated?
  3. Whom do you want making medical decisions on your behalf?

Identifying the people you want to fulfill these roles and discussing your estate plans with them and any other potential heirs gives you peace of mind and prevents disputes and confusion down the road.

The bottom line: everyone needs to plan for when they're gone. Dying intestate, or without a will, is costly to your heirs and gives you no say in how your assets are dispersed or managed.

Working with a financial advisor can help you sort through the options and create a comprehensive estate plan that meets your needs.

Next: Checklist

Want to maximize your retirement savings?

Work with a financial advisor to build a strategy.

Call 1-877-221-8108 to get started today.


Copyright © 2015 Navy Federal Credit Union. All rights reserved.

Navy Federal Credit Union is federally insured by the National Credit Union Administration.

Nondeposit products offered through Navy Federal Brokerage Services, LLC (NFBS), member FINRA/SIPC. Insurance products sold through licensed agents appointed with various companies. Investment advisory services offered through Navy Federal Asset Management, LLC (NFAM). NFBS and NFAM operate under the marketing name of Navy Federal Investments & Insurance. Nondeposit investment products are not federally insured, are not obligations of the credit union, are not guaranteed by the credit union or any affiliated entity, and involve investment risks, including loss of principal, and may be offered by an employee who serves both functions of accepting members' deposits and the selling of nondeposit investment products. NFBS and NFAM products are not offered, recommended, sanctioned or encouraged by the Federal Government. Office of Supervisory Jurisdiction, 12851 Worldgate Drive, Herndon, VA 20170; phone 1-877-221-8108; fax 703-332-0424.

Investors should carefully consider the investment objectives, risks, and charges and expenses associated with municipal fund securities before investing. This and other information about municipal fund securities is available in the issuer's official statement which can be obtained directly from the issuer, or if distributed through a broker dealer, may be obtained from a financial adviser, and should be read carefully before investing.

An investor should consider, before investing, whether the investor's or designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program.

If a municipal fund security describes one or more of their investment options as having the characteristics of a money market fund, it is important to know that an investment in the security is not insured or guaranteed by the FDIC or any other government agency (unless such guarantee is specifically provided by or on behalf of such issuer) and, if the security is held out as maintaining a stable net asset value, that although the issuer seeks to preserve the value of the investment at $1.00 per share or such other applicable fixed share price, it is possible to lose money by investing in the security.