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Estate Documents— No Close Relatives

By Terry Savage on November 03, 2019 | Financial Planning / Retirement

My question has to do with estate documents. A little bit about us. My wife and I live in Chicago Illinois, I am retired and work seasonal part time, my wife retired from her primary profession but has a full time job but is looking to fully retire within the next couple of years. Both of us are collecting our pensions, we moved our company sponsored 401ks into IRAs managed by TD Ameritrade. Neither of us are taking Social Security at this time.Our current plan is to have my wife begin taking in 3 and a half years when she turns 67 and for me to begin to collect at 70 and a half in 5 years..

Our Financial Advisor would like us to complete our estate documents; wills, revocable living trusts, legal/financial POAs, Medical POAs….

We do not have children, I am an only child and my wife does not have any family. We are struggling with the concept of trusted contacts and who to name. Without any close relations or friends we would trust — do you have any thoughts?



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