On the October edition of Coffee Break, Elaine shared a quick hit idea for working with a great referral source – CPAs. If you have not taken a minute, please check it out.
Elaine also noted that one simple statement can open the door, eyes, and ears. And, it is simply this …
“Are you aware of how to transform qualified money into tax free long term care benefits that can las a lifetime”.
As you are hopefully aware, this is the Asset Care (Annuity Funded Whole Life) strategy for qualified money. We discussed this strategy in the February 2023 episode of Coffee Break and I have shared ideas around this regularly in Fridays with Fisher posts.
The big key here is this … using the turn-key Asset Care strategy works for some people, using a self-directed approach works for others, using a sweep account to fund a policy for yet another group … there is no ONE funding strategy that works for everyone.
That is why the Care Solutions portfolio exists – to provide unique solutions for each client’s unique needs.
Back to this month’s Coffee Break and CPAs, we have some resources that you can share during your meetings. Some of these are:
- Tax guide for individuals & businesses for asset based LTC
- Trusts and Asset Care guide
- Step by Step Guide to Receivign Care
The long and the short of the thing is this. You don’t need to be the expert – that is their job, but you do have to be a resource where you can help identify opportunities for them to help their clients improve their tax position.
Other ideas that might open minds include:
- How to minimize the risk of an IRMAA surcharge by repositioning assets into insurance
- How to transform taxed deferred accumulation from a deferred annuity into tax free long term care
- How a company might be able to deduct long term care premiums
- How the SECURE Act creates and opportunity for funding a long term care
These are just a few ideas that you can use to open a conversation and create a mutually beneficial relationship with CPAs.
Want more information on any of these? Call my internal Justin Fox at (844) 658-3725
Here is a way to close the year on a strong note. Review your book of business and identify your clients who are over 75 and own annuities that are on the sideline and earmarked for an emergency. The share the story how that money can be transformed into a tax-free long term care insurance strategy. That is what the million dollar annuity strategy is all about. Learn more about it at https://fridayswithfisher.com/million-dollar-annuity/.
My “big ask” of you for the million dollar annuity strategy is to identify 3 or 4 annuity owners 75 or older who might be viable candidates for our leverage strategy then give us a call.
Fridays with Fisher 
You must be logged in to post a comment.