The topic of elder care planning has become relevant and immediate to a rapidly growing number of individuals. Baby boomers are aging and reaching their retirement years; at the same time, senior citizens now live longer and lead more active lives due to improvements in lifestyle and healthcare. Compounding the importance of these issues is the phase-in of the Affordable Health Care Act and the public debate about how entitlement programs are to be maintained. This course discusses the important issues relevant to an aging population. We'll examine the need for a well-considered estate plan, the complexity of the Social Security system, Medicare and Medicaid, the importance of planning in order to secure entitlement benefits, financial retirement considerations, how seniors can use their homes to plan, and much more.
Upon successful completion of this course, participants will be able to:
- Identify a number of estate planning alternatives that address personal and financial circumstances and recommend the best plan for their clients.
- Cite the tax consequences of an estate plan.
- Identify estate planning issues for estates of varying sizes.
- Identify planning techniques for the complexities of the Social Security system.
- Define what the Medicare system does and does not cover.
- Identify Medicaid planning techniques.
- List the best ways to minimize tax consequences when leaving retirement plan benefits to heirs.
- Identify the changes in Social Security rules that limit a number of once-popular planning techniques
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