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Advising the 60+ Investor: Tax and Financial Planning Strategies 1st Edition

by Darlene Smith (Author), Dale Pulliam (Author), Holland Toles (Author)

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Thanks to healthier lifestyles and medical advances, seniors are living longer than ever. And now, with the baby boomers approaching retirement age, the demand for financial advice for the 60+ investor is skyrocketing. To fully and effectively serve the needs of this rapidly growing group, financial advisors need a source of information that is comprehensive, reliable, and timely.

Advising the 60+ Investor offers tax and financial planners an authoritative resource for the financial concerns of those who have retired or are about to retire. Drawing on the combined expertise of tax, finance, and accounting professionals, this remarkable book makes it easier for financial advisors to present their clients with a full range of planning strategies and to provide practical advice custom tailored to their clients' individual circumstances. An abundance of detailed, real-world examples illustrate many of the most common financial situations faced by older investors, and handy computation aids and data tables make calculations clear, quick, and straightforward.

The broad, comprehensive scope of Advising the 60+ Investor includes:
* Basic Financial Planning--Investor objectives, asset allocation, insurance requirements, and related topics, such as reverse mortgages and post-retirement employment.
* Pension and Annuity Income--Distribution options from retirement plans and their taxability, including IRAs, annuities, and lump-sum distributions.
* Social Security Benefits--Calculating the amount of the benefits; worker, family and survivor benefits, taxation of benefits, Medicare and Medicaid.
* Transfer of a Closely Held Business--Owning a business and transferring ownership/control of a family business to the next generation: proprietorships, partnerships, and corporations; private annuities, family limited partnerships, and businesses transferred at death.
* Estate Planning--The estate and gift transfer tax system, the basic goals of estate planning, estate planning techniques, marital deduction planning, and grantor retained interest trusts.
* Marriage and Remarriage--The marriage penalty, Social Security benefits, estate planning, and maximizing the exclusion of gain on the sale of both homes.
* Miscellaneous Provisions--Important general tax issues affecting older taxpayers, including the additional standard deduction, the credit for the elderly and disabled, deductions for medical expenses, multiple support agreements, life insurance proceeds, endowments contracts, the tax consequences of volunteerism, and much more.
* Designed to meet the needs of busy investment advisors, financial planners, accountants, and attorneys, Advising the 60+ Investor is an invaluable resource and essential addition to the professional financial advisor's reference library.

NOW YOU CAN TARGET THE SPECIFIC FINANCIAL SERVICES YOUR 60+ CLIENTS NEED IN THEIR RETIREMENT YEARS.

Researched and written by three tax, financial, and accounting experts, Advising the 60+ Investor provides planners with a comprehensive resource for advising the older investor. Timely and authoritative, this essential reference covers the full range of topics that concern this rapidly growing population group. Such areas as financial planning, asset allocation, pensions and annuities, Social Security benefits, the transfer of a business, estate planning, marriage and remarriage, life insurance, medical benefits, and related topics receive detailed and practical coverage. Real-world examples, computation aids, and data tables support the text and help make this an indispensable addition to your professional library.

Editorial Reviews

From the Inside Flap

Thanks to healthier lifestyles and medical advances, seniors are living longer than ever. And now, with the baby boomers approaching retirement age, the demand for financial advice for the 60+ investor is sky-rocketing. To fully and effectively serve the needs of this rapidly growing group, financial advisors need a source of information that is comprehensive, reliable, and timely. Advising the 60+ Investor offers tax and financial planners an authoritative resource for the financial concerns of those who have retired or are about to retire. Drawing on the combined expertise of tax, finance, and accounting professionals, this remarkable book makes it easier for financial advisors to present their clients with a full range of planning strategies and to provide practical advice custom tailored to their clients individual circumstances. An abundance of detailed, real-world examples illustrate many of the most common financial situations faced by older investors, and handy computation aids and data tables make calculations clear, quick, and straightforward. The broad, comprehensive scope of Advising the 60+ Investor includes: Basic Financial PlanningInvestor objectives, asset allocation, insurance requirements, and related topics, such as reverse mortgages and post-retirement employment Pension and Annuity IncomeDistribution options from retirement plans and their taxability, including IRAs, annuities, and lumpsum distributions Social Security BenefitsCalculating the amount of the benefits; worker, family and survivor benefits, taxation of benefits, Medicare and Medicaid Transfer of a Closely Held BusinessOwning a business and transferring ownership/control of a family business to the next generation: proprietorships, partnerships, and corporations; private annuities, family limited partnerships, and businesses transferred at death Estate PlanningThe estate and gift transfer tax system, the basic goals of estate planning, estate planning techniques, marital deduction planning, and grantor retained interest trusts Marriage and RemarriageThe marriage penalty, Social Security benefits, estate planning, and maximizing the exclusion of gain on the sale of both homes Miscellaneous ProvisionsImportant general tax issues affecting older taxpayers, including the additional standard deduction, the credit for the elderly and disabled, deductions for medical expenses, multiple support agreements, life insurance proceeds, endowments contracts, the tax consequences of volunteerism, and much more Designed to meet the needs of busy investment advisors, financial planners, accountants, and attorneys, Advising the 60+ Investor is an invaluable resource and essential addition to the professional financial advisors reference library.

From the Back Cover

Thanks to healthier lifestyles and medical advances, seniors are living longer than ever. And now, with the baby boomers approaching retirement age, the demand for financial advice for the 60+ investor is skyrocketing. To fully and effectively serve the needs of this rapidly growing group, financial advisors need a source of information that is comprehensive, reliable, and timely.

Advising the 60+ Investor offers tax and financial planners an authoritative resource for the financial concerns of those who have retired or are about to retire. Drawing on the combined expertise of tax, finance, and accounting professionals, this remarkable book makes it easier for financial advisors to present their clients with a full range of planning strategies and to provide practical advice custom tailored to their clients' individual circumstances. An abundance of detailed, real-world examples illustrate many of the most common financial situations faced by older investors, and handy computation aids and data tables make calculations clear, quick, and straightforward.

The broad, comprehensive scope of Advising the 60+ Investor includes:

Basic Financial Planning—Investor objectives, asset allocation, insurance requirements, and related topics, such as reverse mortgages and post-retirement employment.
Pension and Annuity Income—Distribution options from retirement plans and their taxability, including IRAs, annuities, and lump-sum distributions.
Social Security Benefits—Calculating the amount of the benefits; worker, family and survivor benefits, taxation of benefits, Medicare and Medicaid.
Transfer of a Closely Held Business—Owning a business and transferring ownership/control of a family business to the next generation: proprietorships, partnerships, and corporations; private annuities, family limited partnerships, and businesses transferred at death.
Estate Planning—The estate and gift transfer tax system, the basic goals of estate planning, estate planning techniques, marital deduction planning, and grantor retained interest trusts.
Marriage and Remarriage—The marriage penalty, Social Security benefits, estate planning, and maximizing the exclusion of gain on the sale of both homes.
Miscellaneous Provisions—Important general tax issues affecting older taxpayers, including the additional standard deduction, the credit for the elderly and disabled, deductions for medical expenses, multiple support agreements, life insurance proceeds, endowments contracts, the tax consequences of volunteerism, and much more.
Designed to meet the needs of busy investment advisors, financial planners, accountants, and attorneys, Advising the 60+ Investor is an invaluable resource and essential addition to the professional financial advisor's reference library.
NOW YOU CAN TARGET THE SPECIFIC FINANCIAL SERVICES YOUR 60+ CLIENTS NEED IN THEIR RETIREMENT YEARS.
Researched and written by three tax, financial, and accounting experts, Advising the 60+ Investor provides planners with a comprehensive resource for advising the older investor. Timely and authoritative, this essential reference covers the full range of topics that concern this rapidly growing population group. Such areas as financial planning, asset allocation, pensions and annuities, Social Security benefits, the transfer of a business, estate planning, marriage and remarriage, life insurance, medical benefits, and related topics receive detailed and practical coverage. Real-world examples, computation aids, and data tables support the text and help make this an indispensable addition to your professional library.