As I work with all ages and a wide variety of scenarios, like I’ve mentioned many times, it is easy to “cover all bases” with the necessary insurances” proportionate to the circumstances (age, health, budget, etc.) and accomplish a positive end result for you and your family.
Two tools that I use a lot for estate planning are the tax deferred annuities and life insurance. It’s not uncommon to see a retired person with way more income than is necessary because of the required minimum distributions from IRA money. One way to replenish the family pot rather than allow those funds to sit in a checking account is to fund life insurance. You may not enjoy the cash benefit/reward, but you will certainly smile on the inside knowing that it came back to your family many times over. Please call me for quotes. They are not as expensive as you might suspect.