This is the chapter where you decide what you leave behind.

In retirement, your estate plan shifts from protection to legacy. This stage is about charitable planning (CRTs, CLTs, donor-advised funds), multigenerational wealth transfer (dynasty trusts, generation-skipping strategies), annual plan reviews to keep everything current, and clear communication with your family about your wishes. If you have not reviewed your plan in the last three years, now is the time.

Estate planning with intention

Retirement is the first time in most people's lives when they can think about estate planning without the urgency of young children, growing businesses, or career demands. The plan you have, if you have one, was probably designed for a different stage. Now is the time to make it reflect who you are and what matters most to you.

For some clients, legacy means ensuring their grandchildren are educated and their family is provided for across generations. For others, it means supporting charitable causes that align with their values. For most, it's some combination. The common thread is intentionality: making sure your assets do what you want them to do, not what default law dictates.

Charitable remainder and charitable lead trusts

A Charitable Remainder Trust (CRT) provides you with income during your lifetime and directs the remainder to a charity of your choice at death. It offers an upfront charitable deduction, removes the asset from your taxable estate, and can convert appreciated assets (like stock or real estate) into an income stream without triggering capital gains tax on the sale.

A Charitable Lead Trust (CLT) is the reverse: the charity receives income first, and the remainder passes to your family. A CLT can be an effective way to transfer wealth to the next generation at reduced gift tax cost while supporting causes you care about during your lifetime.

Donor-advised funds

A Donor-Advised Fund (DAF) is a simpler alternative to a private foundation. You make an irrevocable contribution to the fund, receive an immediate tax deduction, and direct grants to charities over time.

A DAF can be established during your lifetime or funded at death through your trust. For clients who want to be charitable without the administrative burden of a foundation, a DAF is often the right tool.

Dynasty trusts and annual gifting

A dynasty trust is designed to last for multiple generations (in Arizona, potentially forever, as the state has abolished the rule against perpetuities for trusts). A dynasty trust keeps assets out of each generation's taxable estate while providing for descendants. It is the most powerful tool for multigenerational wealth preservation.

The annual gift tax exclusion ($19,000 per recipient in 2026) allows you to transfer wealth to children and grandchildren without tax consequences. For married couples, that is $38,000 per recipient per year. Over a decade, strategic annual gifting can transfer substantial wealth outside your taxable estate.

The annual review

We recommend annual estate plan reviews for all retired clients. Life changes (health, family dynamics, tax law, asset values) and a plan that was current last year may not be current today. An annual review catches these changes before they become problems.

Topics covered in an annual review include changes in health or capacity, changes in family circumstances (births, deaths, marriages, divorces), changes in assets or beneficiary designations, updates to Arizona or federal law, trustee and agent availability, and charitable giving intentions.

Talking to your family

One of the most valuable things you can do at this stage is communicate your plan to the people affected by it. This doesn't mean sharing every detail. It means making sure your trustee knows they are named and understands the role, your healthcare agent knows your wishes, your children know where your documents are stored, and everyone understands the general structure well enough to avoid surprises.

We can facilitate family meetings as part of the planning process. Having the conversation with an attorney present often makes it easier for everyone.