Assuming you have planned properly and saved accordingly, you should maintain a good quality of life in retirement. It is usually during these times that attention should be turned to reducing taxes and fees on legacy accumulations and transfers.
A lot of people think that only the really wealthy can afford or should have an integrated and coordinated tax reduction plan that triggers upon their demise. That is incorrect. There are a number of practical steps that YOU can take now to save your heirs time and money later. To begin with, certain retirement benefits, such as IRAs, can be stretched out for years by listing all the appropriate beneficiaries, thereby avoiding probate costs and complexity. You should make sure all your retirement payouts take full advantage of such provisions.