Pension Protection Act - create tax-free LTC income using taxable gains on non-qualified annuities

Pension Protection Act - create tax-free LTC income using taxable gains on non-qualified annuities

Author: Diane Stoddart, Certified Long Term Care Consultant, CLTC May 29, 2024 Duration: 13:46
This week, Diane shares how the PensionProtection Act passed in 2010 makes it possible to 1035 exchange non-qualified annuities into various LTC plans that generate tax-free income for extended care needs. Not all annuities are tax-free for LTC. LIsten and learn how different rules apply to different annuity forms. If you or somone you know has an annuity that they don't want to use due to many years of taxable earnings when withdrawn, consider 1035 exchanging that into an LTC annuity with tax-free income for long term care. If care is never needed, the annuity is passed to beneficiaries just like other annuities. Let's work together to learn if you can design an LTC plan that saves taxes and dosen't impact your budget. Schedule with me at https://calendly.com/diane-p4t/30min to learn what is available inyour state.

Diane Stoddart brings a professional yet deeply personal perspective to the complex world of long-term care planning in Preparing For Tomorrow podcast. As a Certified Long Term Care Consultant, she understands that preparing for future care needs involves more than just finances-it's about safeguarding your family's well-being and peace of mind. Each conversation cuts through the industry jargon to clarify the real options available, from insurance products to legal strategies, all aimed at protecting your life savings from being depleted by unexpected care costs. You'll hear Diane break down essential concepts and terms, making a daunting subject feel manageable and urgent. Alongside expert guests, she explores the emotional and physical dimensions of caregiving, offering a holistic view that acknowledges the full weight of these decisions. This isn't about fear; it's about empowerment through knowledge. Tuning into this podcast provides a straightforward guide to creating a practical plan, ensuring you can face tomorrow with confidence rather than anxiety, knowing your loved ones and your legacy are secure.
Author: Language: English Episodes: 100

Preparing For Tomorrow podcast
Podcast Episodes
What's a 1035 exchange? [not-audio_url] [/not-audio_url]

Duration: 12:03
Several people are asking if they can use their life insurance policies for long term care needs. Some newer life insurance plans include a chronic illness rider that let's you use the dealth benefit while still alive an…
What if I die before using all my LTC benefits? [not-audio_url] [/not-audio_url]

Duration: 9:40
Teresa wants to know what happens to any LTC benefit money she doesn't use. There are plans that pay your family back if no care or little care is needed, but that's not why we buy insurance. Insurance by definition is a…
When I Met Alzheimer's Face to Face [not-audio_url] [/not-audio_url]

Duration: 27:18
We have a lot of new listeners, so I'm taking you back to one of our earliest episodes to share my "Why". I became a long term care specialist because my heart yearns to help you not go through what I and my family went…
I promised your mom [not-audio_url] [/not-audio_url]

Duration: 10:42
This week, I'm sharing updates on the four clients with LTC claims that we shared on February 22nd. I have been walking with these families as they prepare for and begin extensive caregiving needs for their moms and wive…

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