Many Americans who save for retirement can leave gaps in their estate planning, like not updating beneficiaries. Your retirement and estate plans should work together. Both prepare you for the future: retirement planning builds your savings, and estate planning protects those savings and ensures they’re distributed according to your wishes. Reviewing your estate plan before you retire may help prevent tax issues for your heirs and helps your assets last through your lifetime and beyond.

Beneficiary (or "transfer-on-death designations") often have the final word even if you name who you want to inherit your money in a will. The precedence of beneficiary designations over a will means that keeping your beneficiary forms up to date is crucial to comprehensive estate planning.

Estate planning for families doesn’t just focus on generational wealth transfer and financial assets. It can also help you preserve family heritage and non-financial assets like heirlooms or rituals. Without a plan, such "assets" could be lost, forgotten, or a source of conflict.

If you divorce, remarry, and fail to plan properly, your final wishes might not unfold the way you expect. A comprehensive estate plan, however, covers how you want your estate distributed and to whom.

A recent Caring.com survey found that many people view estate planning as essential when they acquire valuable assets like a home or a substantial cash windfall. More than half of the respondents -- 56 percent -- said they don't have a will or trust because some feel they lack enough assets to leave anyone. But estate planning involves more than things -- it also involves people; your final wishes form the future for those you love. The best time to plan is when you're healthy and don’t face a crisis. Yet, as the survey showed, some age groups are more prepared than others, and certain factors influenced their choices.

With Valentine's Day approaching, the stores are filled with heart-shaped candy boxes and fancy cards. Perhaps a better way to show your love for your family is to do some estate planning.  An “I love you” will (also called a "mirror," "sweetheart," or "reciprocal" will), lets you leave your estate to your surviving spouse. Later, upon the survivor's death, the estate likely passes to their children.

If you’ve started the estate planning conversation, it's time to turn it into a team effort. If not, consider why it’s worth broaching the discussion before it’s necessary. Involving everyone in the process helps sidestep misunderstandings and disputes later. The goal is to create a plan that honors everyone while it preserves not just assets, but family harmony.

An average of six out of every ten American adults lack an estate plan. Like a sandcastle washed away, without a plan, the lifetime legacy you’ve built could vanish. When your loved ones grieve, as medical bills mount and deeds gather dust, your final wishes can remain a mystery.