Perspectives – Clients in Their Senior Years

Financial Concerns –

• Assets matter; willing to accept less return for more stability;
• Cannot start afresh to build assets since I am in retirement;
• Afraid of out-living my assets; cannot keep my spouse from worrying
• Cannot control the future tax environment

Family Concerns –

• Can I afford to gift to children or grandchildren?
• Leaving an estate to my children, maybe, maybe not
• Concerns about my children will change over time
• My assets are for my kids, so let’s watch expenses
• Should we establish a foundation to help our community?

Health Concerns –

• My greatest risk; now that I think about it, I want to hang in there to see a grandchild’s wedding
• What if my spouse or I require serious care now or in 15 years? How much might that cost?
• Affluent people tend to live longer, thus increasing the chances for care; no fun having the children play caregiver
• Should I need care, I want quality care, perhaps 24/7 Home Care
• In the future, my spouse and I will become too frail to provide care for each other

I cannot control my future but I can execute various plans to provide options.

Long Term Care Planning can go a long way to preserve assets, preserve family harmony, preserve the retirement distribution plan and the allow the estate plan to play out.

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