Unexpected retirement. Sign outside on sidewalk with the words "What's your plan for retirement?"

How to Deal with an Unexpected Retirement

Your retirement plan is likely entirely contingent on how long you intend or consider yourself able to work. Health crises or economic crises may be pushing more people toward an unexpected retirement or an early retirement than ever before. Even if you don’t believe that a retirement is immediately on your horizon, it can be well worth spending some time thinking about how you would adapt quickly if you needed to move into retirement.Unexpected retirement. Sign outside on sidewalk with the words "What's your plan for retirement?"

Retiring earlier than expected is not something new. In fact, a study recently completed by Allianz Life found that half of current retirees retired earlier than expected. Most of the people in that study, however, said that they retired for reasons outside of their control, such as the unexpected loss of a job or the development of healthcare issues that prevented them from being able to do the job.

The first thing to do when planning ahead for potentially early retirement is to fill in the gaps by examining health care needs first and then looking into other employment options.

A part time hourly or contract position could be a way to help bridge the gap if you were not financially ready to retire at the time that you had to leave the work force for one reason or another.

If you had to retire due to health issues, now is also the time to look more deeply into your elder law plan. Have you thought about protecting yourself or your spouse if your healthcare issues got worse? Do you know how you’d qualify for Medicaid if you needed it?

Schedule a time to speak with an elder law attorney if you’re coming up on retirement and are ready to answer the important questions around your elder law plan.


Elderly couple discussing a neurological condition with their attorney

Why Those with Neurological Conditions Need Estate Planning

People of all ages and backgrounds can benefit from the process of estate planning. As an elder law practice, we often help people who are approaching retirement age or looking a few years into the future.

But for anyone who suffers from a serious neurological condition, it is even more important to schedule a consultation with an estate planning attorney to discuss your next steps right away. There are unique considerations in elder law to take into account when you have a loved one recently diagnosed with a neurological condition.Elderly couple discussing a neurological condition with their attorney

Neurological conditions can get worse over time, making it difficult for you to make decisions on your own or to be classified as legally incompetent.

All planning and documents for anyone diagnosed with a neurological condition need to be tailored specifically to you. Your planning must reflect your personal experience within that condition and the possibility that it might get worse over time. Consider some of the following aspects when deciding what to incorporate with regards to an elderly neurological condition:

  • Your current status.
  • The rate of progression or rate of anticipated recovery.
  • Future prognosis.

All of these issues should be taken into consideration by you and your estate planning lawyer when discussing your next steps to protect your interests and to ensure that you have necessary documents in place should you become incapacitated.

Power of attorney documents and decisions regarding your health care should be discussed in advance so that your loved ones do not have the added stress of having to go through court and have someone appointed to make these decisions on your behalf. If you have specific wishes surrounding your health care or who will step in to manage your finances, decide that now in the event that your brain based neurological condition gets more severe.

Our Dover, NH estate planning office is here to help you get your documents in order and to discuss your concerns when your spouse or family member has been diagnosed with a neurological issue.