You can't stop time from passing. As you are asking yourself how another year went by so quickly, take control of those things that you can control and that can give comfort and support to your loved ones: review your estate plan using this year-end estate planning checklist.
The average life expectancy of West Virginians is 75.4 years of age. If you started working at the age of 16 and you retire at age 66, you will have worked for over two-thirds of your entire life and over 87 percent of your adult life. That is a lot of time dedicated to building your retirement savings and planning for retirement . . . and very little time left to enjoy retirement. Presumably, 50 working years or more could provide one or more nice-sized IRAs to fund your retirement as well as something to leave a beneficiary upon your death. But do you know how to fit an IRA in your WV estate plan?
Need help with West Virginia power of attorney laws? You've come to the right place. This blog is the first in a series of three dealing with powers of attorney in the Mountain State. In it, we'll give an overview of the most common powers of attorney. The remaining two blogs will address the legality of online power of attorney forms, as well as specific powers of attorney in West Virginia.