What might fit last year may not fit now. Health Protection Medical insurance is a basic staple that needs to be addressed. If a client's employer provides post-retirement medical coverage, that's great. But more and more, that's a vanishing benefit. After becoming eligible for Medicare at 65, the retiree would take a Medicare supplement program if they wanted to cover certain gaps such as certain deductibles and co-payments.
Most people concern themselves with medical insurance and that's a concern.
But less people are thinking about long-term health care which would relate to either home care or nursing home care. If a client plans on moving to another state, Calfee advises that he or she should look carefully at that state's estate tax laws. He also suggests exploring a place carefully before actually moving there. Another attractive feature to moving, financially speaking, is the possible change in state income tax laws. If your client moves to a no income tax state such as Florida, then he or she will first save taxes directly on various items of otherwise taxable income.