Description
This course addresses the myriad of issues that must be considered when advising older clients. The course examines financial, tax, insurance, and estate planning considerations, and it provides guidance on healthcare choices including Medicare and Medicaid and housing options, such as assisted living and long-term care. The course also addresses issues related to employment, such as the timing of retirement, when to claim social security benefits, and tax issues around IRAs and 401ks. Also covered are issues related to COVID 19 and recent laws, such as the required minimum distribution changes and other effects of the Secure Act and the CARES Act.
Case studies provide examples of the issues that retirees and their families face and how a financial planner can address them.
Learning Objectives
Chapter 1 The Elder Care Perspective
Understand the challenges faced by elder care planners, including the implications of the age wave and longevity, emergency planning as compared to long-range planning, ethical problems of elder care planning, and intergenerational and family conflict.
Chapter 2 Health Choices
Define and explain paid elder care, the kind of care seniors require, where care can be accessed, how care is paid for, and the options for care in the community.
Chapter 3 Housing Choices
Understand the housing options relevant to elder care planning, including types of housing and the related financial considerations.
Chapter 4 Financial and Tax Choices
Understand the financial planning considerations that are of particular concern to older clients.
Chapter 5 Insurance Choices
Describe the various considerations and choices with respect to insurance.
Chapter 6 Employment and Retirement Choices
Describe the choices and considerations related to employment and retirement that are important to seniors.
Chapter 7 Estate Planning and Administration
Identify the key elements of the estate planning process, including defining the estate, bequests, trusts, administration, and tax issues.
Chapter 8 Long-Term Care
Understand the long-term care options available to elder clients.
Chapter 9 Medicare
Understand the rules and structure of Medicare and the important decisions that need to be made by elder clients.
Chapter 10 Medicaid
Explain the Medicaid eligibility rules applicable to senior clients.
Chapter 11 Social Security
Explain the structure of the Social Security system and its benefits.
Chapter 12 Caregiver Issues
Understand the issues relating to caregivers.
Chapter 13 Silvertech
Define Silvertech and its use.
Chapter 14 Preparing for the Worst
Understand the threats faced by elder clients with respect to incapacity, elder abuse, scams, and other challenges.