Charlie & Carol Cash:
RMDs & Long-Term Care Planning
Far too many American families avoid discussing important issues regarding their aging parents, especially when the discussion has financial implications. However, proactive planning
across generations, can often lead to wise long-term decisions. In this case study, we make the following planning assumptions:
- The couple, both 73 years old, are quite active & healthy.
- Both receive a pension and Social Security that meets their income needs.
- They are concerned about becoming a burden on the children/grandchildren.
- They would “pay for care” with untapped $600,000 in retirement accounts, and Carol also sees those accounts as "legacy assets"
to be passed on to their children/grandchildren.
- The couple must begin taking Required Minimum Distributions (RMD) this year.
- Their CPA indicates total RMDs for the couple exceed $24,000 this year.
- They complete HALO
Assessments that project the couple has an 8-year, $7,500 per month combined need for care, likely well into their
If Charlie and Carol were your clients, which LTC Planning
solution would you advise to maximize their RMDs and
address their comprehensive
And....Does your current LTC wholesaling resource provide a presentation tool like