Using RMDs to Preserve a Family Legacy and Provide LTC Benefits

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In this episode of The Insurance Experts, we’re fortunate to hear from Liz Pace, an expert in risk management strategies. Liz has an impressive skill set starting with her expertise in life insurance. She's also a chartered life underwriter, chartered financial consultant, and a long term care specialist. She has spent much of her career partnering with financial planners to help their clients with insurance solutions.

The expertise that Liz carefully cultivated through her years of working in the insurance industry received a dose of real-world experience after her father was diagnosed with Alzheimer's – an event that led her to add long term care to her resume.

As a child of older parents, Liz understands more than most about the challenge of having aging parents. Her father lived eight years with his Alzheimer’s diagnosis, so Liz is uniquely positioned to understand a person’s need for risk management when it comes to their retirement benefits. 

Liz shared with us a recent experience working with a couple who had significant retirement assets – having planned well during their working years. They weren’t in need of investment or income strategies, but were looking for ways to protect what they had built so that they could pass on a legacy to the next generation – an important strategy when you consider the devastating impact that long term care can have on assets.

So, what does one do with required minimum distributions (RMDs) when you don’t need the income, want to preserve a legacy, and don’t want to create a taxable account? 

Watch this short video to find out how this couple was able to preserve their retirement savings within a tax-efficient strategy that also provided long term care peace of mind.

Want to Learn More - Visit BuddyIns

BuddyIns is a community of client-centric long term care insurance specialists. We are dedicated to helping financial professionals and their clients across the country with customized LTC planning solutions.