This checklist covers many of the issues to consider during a recession or market correction.
It addresses some strategies particularly useful when the valuations of the markets are low (such as Roth conversions and gifting strategies) as well strategies to mitigate the negative impact (cash flow becoming tight).
This can help redirect fear of the future toward strategies to take advantage of low valuations. Consult a qualified professional (financial, tax or legal) as you develop your strategy to move forward.