Things to consider…

A new identity?

Retirement is one of the major changes in one’s life, and can result in a different identity. Some people will have been Very Important People (VIPs) in their world, but are now FIPs (Formerly Important People).
A former CEO may live next to a former plumber (and probably be a bit more wealthy), but he can be regarded as just another old guy!
So whereas they may have had a key part of their identity from their work position, this no longer applies and they probably need to develop their new identity of themselves, as well as being part of a couple.
See the article on “The silent risk of retirement” GO…

Cohabitation

Many older people can be cohabiting with a partner they are not married to, because of divorce or death. This can bring a different set of issues that need to be considered, and this article identifies some of them. GO…

Financial Plans

Retiring has some major implications financially, where one usually has a pension which is smaller than one’s previous salary.
So it is desirable to do a rethink about one’s financial situation, probably linked to your considerations about where you will live (see other section).
One also should look at one’s expenditures to see what can now be dropped. (such as does one still need to have a life insurance policy to cover the family if you died or couldn’t work).
There are many documents that are of relevance to mature folk. We have some of them loaded on our site. We have permission from most of the originators to make them available.
If there are other things that readers feel should be shared, please send it via the Feedback page.

Decluttering

Many people will move to a smaller place when they are in their 60s or 70s.
See the page on living and caring. Most people will acquire “stuff” and find that it occupies a lot of one’s home. As a preliminary to down-sizing for a move, it can make sense to see what can be passed on to one’s children, grandchildren, etc.
And not just physical things but electronic ones as well. How many of your LinkedIn contacts might you see again, how many e-mail contacts, which websites, etc.

Write it down:

Some of us firmly believe that “if it isn‘t written down and people know about it, then it doesn’t exist”.
This applies to many things, including for example; your funeral wishes (burial or cremation); who gets what when you die (eg jewellery, pictures, furniture, etc – maybe as addendums to your will); how someone can access and close down all your social media accounts; etc.

You’ve Earned It

This is a web site for people over 55. It has various special offers for pensioners, and some useful articles. GO…

Things for your family to know:

There are many things that can be done to make life easier for your family, executor, etc if you died; they will really appreciate it if you have done these things.
Remember that these items will be needed before death, if at all.
So they should not be stored in your “Life file” (which is only opened after death), and you should have talked to your family, executor, etc and made them aware of what you want, and where the documents are physically stored.

Your Life File: 

Part of your legacy to your executor and family is this: will they praise you because you have left all they need well organised and in one place?  Or they will curse you because they have to waste a lot of their time to dig through your place to find what they must have to wind up your estate?  Everyone should have this material in a “Life File”. 

Probably the best-known one is the “What If” file developed by Nikki Bush.  Nikki is a human potential expert, award-winning speaker and best-selling author.  Some time ago her husband was shot and killed during an armed home invasion. In the process of working with the executor to wrap up the estate she realised how unprepared she was for the bureaucratic nightmare that followed. It’s an arduous, time-consuming process that can take many years. Not having the correct documentation on hand, or passwords to access information, slows down and frustrates an already tricky process. This led to Nikki compiling her useful What If File™️ Checklist which can be found on her website.  Nikki is a well-known thought leader and advocate in the financial services sector where she works tirelessly to make the system more accessible and empathetic in times of trauma and loss. To get a What If File: GO here

There are several other checklists, some of which are probably based on Nikki’s original trademarked file.  They may be called a Red file, a Purple file, a Life file, a Death file, or similar.  An example of these is on the website of Sonja Smith funeral directors.  To get this, GO here.

 Funeral Wishes: 

Funeral directors say that one thing that can cause a lot of stress in surviving families is that they do not know what the deceased person would have wanted, sometime even whether they wanted a burial or cremation.
There is a comprehensive questionnaire that people can fill in to make sure that their families know what they would like. GO…  

Emergency Medical Information

One estate we know of has a Medical Emergency Information sheet, which they encourage all residents to keep on their electrical distribution board in the garage, or behind their main bedroom door.
From personal knowledge we know that both the ambulance staff and the staff in the hospital A & E really appreciated seeing this form, and said that they wished everyone came with one.
GO… to download the EMI form, and modify it if you feel it can be improved for you.

Living Wills

It can be important that one has a living will if one does not wish to be kept alive artificially by medical interventions.
There is a draft of such a living will here, but you may prefer to have one from you own legal advisor.
GO… here to download living will template

Love Legacy Dignity have what they refer to as an “Advanced Directive”, which goes into more detail regarding the many conditions that can arise and what is then to be done.
Get it from their website: https://lovelegacydignity.com/