From Yahoo Finance: 2025-06-07 17:01:00

Estate planners advise retirees to update legal and financial documents for 2025. Five essential estate planning documents include a last will, power of attorney, and healthcare directive. Experts recommend preparing powers of attorney for medical and financial decisions to ensure wishes are respected during emergencies. A comprehensive estate plan should also include a strategy for long-term care.

Retirees should review and update beneficiaries on retirement accounts and life insurance policies. Designations take precedence over a will, so revisions are crucial after major life changes. Digital estate planning platforms simplify document storage and access, providing reminders for updates. Centralized password storage with a password manager is essential to prevent headaches for heirs and executors in 2025.



Read more at Yahoo Finance: 6 Things Every Retiree Should Have Prepared in 2025