Long-Term Care Planning vs. Taxes: Finding a Healthy Balance

Many families discover that trying to mitigate the cost of long-term care can conflict with another common retirement concern — reducing taxes for retirees and their heirs.

A woman and her elderly parents smile as they look at a laptop together.
(Image credit: Getty Images)

Clients often bring to us their unique circumstances paired with specific goals, individual concerns and distinctive aspirations for their retirement years. Despite some differences, they all have one thing in common – they’re craving peace of mind and the certainty that what they’ve saved, no matter how much or little that may be, will cover everything they have planned. Retirement also brings about several risks that threaten certainty, such as longevity, market risk and inflation, followed by the two most common concerns — cost of long-term care and how to reduce or avoid taxes during retirement and upon transfer to heirs.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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John M. Graves, Esq., IAR, Agent
Owner, G&H Financial Group

John Graves takes pride in guiding his clients through the demanding retirement planning process with customized plans molded to help withstand whatever the future holds. John specializes in retirement planning and working with clients pre- and post-retirement who desire to protect their money and ensure it is there when they need it most. John and his team at G&H Financial Group pride themselves on building and maintaining long-lasting relationships with their clients and families.