What is your plan for protecting your quality of life as you grow older?
When a loved one is diagnosed with a cognitive disorder, it can have a lasting effect on the entire family. I have seen firsthand, both professionally and in my own family, how financial planning increasingly becomes a family issue as we age. In addition to managing investments, I aim to partner with my clients to prepare for the challenges that may lie ahead.
Here is how I help clients and their families:
- Organizing your assets. Do you still have stock certificates, paper bonds, or accounts at several financial institutions? We start by cleaning up your financial house: consolidating accounts and converting paper stocks and bonds into electronic records.
- Comprehensive investment management. Whether it’s paying for a home aide, changing a family member’s housing situation, or leaving a legacy to family or charity, we can build an investment strategy designed to keep you in control of these important decisions.
- Cash flow analysis. In retirement, you need a plan to replace your paycheck with income from your savings. We can set up a disciplined distribution strategy to cover your household’s day-to-day needs and reduce the risk of outliving your money.
- Long-term care planning. According to the U.S. Department of Health and Human Services, slightly more than half of people turning 65 will need some form of long-term care during their lives. The cost can become a significant burden on a family. We will look at every option to manage this risk, including insurance or setting aside existing assets for a potential need.
- Integrated tax planning. Working with your tax professional, we can make sure you are taking advantage of current tax laws. Gifting and trust strategies can reduce, and in some cases eliminate, taxes for you and your heirs.
- Estate and trust strategies. You worked hard to build your nest egg, and it’s important that your wishes are followed if you can no longer advocate for yourself. By working closely with your attorney, we can help make sure your estate plan reflects your current needs and expectations.
- Social Security and Medicare. Social Security is typically the foundation of retirement income, so it pays to have a claiming strategy that makes the most of what you are entitled to. The Medicare enrollment process and deadlines can be overwhelming, and missing a deadline can leave you without coverage for months and result in costly penalties.
- Access to your most important documents. Over the years we accumulate a lot of important paperwork that we may need to find quickly, which becomes harder if we split time between two homes or have authorized someone to act on our behalf. Insurance policies, wills and estate documents, legal contracts, and financial statements can be organized, stored, and retrieved securely online at any time.
- Help protecting against elder scams. Tax identity theft, IRS impostor calls, and other scams frequently target older adults. I can help your family recognize the warning signs and put safeguards in place.
- A trusted network of senior and elder care specialists. Whether it’s working through the Medicaid process, getting guidance on housing, or finding aging-in-place resources nearby, I can connect you with reputable professionals.
By working with families before a crisis, I aim to reduce the risk of having to react to a bad situation. With a plan in place, families can concentrate on supporting their loved one and getting them the care they need.
Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.
