Making Final Choices

He says what I say, Tom Lauricella in today's Wall St Journal, Making Final Choices While They're Yours.

In an era where many retirees have multiple retirement accounts and homes that have appreciated considerably in value, there often needs to be a well-thought-out plan for how these assets will be handled at death.

And no matter what your net worth, it's vital to give someone you trust the power to make financial and health-care decisions for you if you become incapacitated.

By making these arrangements ahead of time, you'll spare your family and friends emotional anguish, minimize the time they'll spend with lawyers or in court, and protect the assets you worked so hard to accumulate. If anything, knowing that these matters are taken care of should help you enjoy retirement that much more.

The legal trinity of necessary legal documents that every adult should have includes:

1. A Durable Power of Attorney
2. Health Care Proxy
3. A Will

Check your beneficiaries for all those assets "outside the will" - like your IRAs, 401(k)s, and life insurance policies