Planning Ahead: Why Estate Planning Matters as You Approach Retirement

By Brad Davis, CIC (August 5, 2025)

At Davis Insurance Associates, our mission has always been simple – to help you protect what matters most. Whether it's your home, your car, or your future, we strive to be your trusted source for personal insurance here in South Carolina, including Medicare options for individuals approaching retirement.

But protection doesn't stop at an insurance policy. As you move into your golden years, it's also a great time to think about estate planning and what steps you can take now to protect your assets and your loved ones down the road.

Why Estate Planning is Important

Many people assume that a will is all they need. But a well-thought-out estate plan can do much more than simply distribute your belongings. It can help you:

• Minimize probate delays and costs

• Protect your life savings from being used up on long-term care

• Ensure your wishes are followed when it comes to healthcare and finances

• Control how and when assets are passed on to your loved ones

• Plan for potential tax consequences that could affect your estate or heirs

Timing Matters: Planning Ahead for Long-Term Care

One area that often surprises people is the timing involved in estate planning, especially when it comes to long-term care and nursing home planning. Certain types of accounts, trusts, or financial protections must be established five years in advance if you want to ensure they are fully protected under current Medicaid rules and other long-term care considerations.

If you or a loved one ever needs to enter a nursing home or assisted living facility, having these accounts and protections in place can be crucial to preserving your assets and ensuring quality care.

Don't Ask Us the Legal Details—Ask a Qualified Estate Planning Attorney

While we're happy to help with your insurance needs, estate planning is a legal matter that requires specialized knowledge. That's why we recommend speaking with a qualified elder law or estate planning attorney.

One professional we trust and recommend is Bret Davis, a local elder law attorney who also happens to be my brother. After recently losing our mother, I saw firsthand how important it is to have your estate in order—and how valuable it is to have an expert who truly understands all the nuances of estate planning, taxes, and timing.

Meet Bret Davis, JD, CPA, LLM

Bret brings a rare combination of expertise as an Attorney, Certified Public Accountant (CPA), and LLM in estate planning. He has helped many families in Myrtle Beach and across South Carolina create estate plans that are both smart and protective.

Here's how you can reach him:

Bret H. Davis, JD, CPA, LLM
Davis Law Firm, P.A.
📍 1110 London St, Suite 201, Myrtle Beach, SC 29577
📞 843-839-9800
🌐 DavisLawCarolina.com

Of course, you are free to speak with any qualified estate planning attorney of your choice. But if you're looking for someone who has helped families in our community, and our own family, I can confidently recommend Bret.

Estate Planning Can Affect Your Insurance Coverage

If you've recently created a Trust or moved major assets (such as your home) into an Estate or legal entity, it's important to let us know. These changes can sometimes affect your insurance policies, and we want to make sure your coverage still aligns with your needs.

Our team at Davis Insurance Associates is always here to help you review your insurance and make updates as your life changes. Whether it's your Medicare plan, homeowners insurance, or personal liability coverage, we're happy to be your trusted advisor every step of the way.

Final Thoughts

At the end of the day, both insurance and estate planning are about peace of mind – knowing you've taken the right steps to protect your family, your assets, and your future.

If you have questions about your insurance policies, or need help understanding how estate planning could impact your coverage, don't hesitate to reach out to our office. We're here to help.

Thank you for trusting us to help protect what matters most.

Davis Insurance Associates
📍 Myrtle Beach, SC
📞 843-213-0000
🌐 thinkdavisinsurance.com