Kiplinger Personal Finance published an article that provided a list of key considerations before getting a reverse mortgage.

What they’re saying: “Be sure to coordinate strategies with your beneficiaries so they are ready to make arrangements upon your death,” says James Enriquez, a financial planner with Strategic Insights Financial Planning Group in McAllen, Texas. That way, they aren’t surprised and upset by the smaller inheritance.

Go deeper: Reverse mortgages are most used as retirees get older and run out of other assets, says Enriquez. However, he finds there are benefits to proactively taking a reverse mortgage earlier in retirement to coordinate with other investments.