When most people move, they have time to meet with lender to be prequalified financially. Doing so helps the family understand how much house they can afford.
When a senior moves to a community that meets their medical, social, and location needs, their family rarely has resources available to help determine if their pending move is sustainable financially, or if their estate plan should be updated. That’s where Keith comes in. As a CERTIFIED FINANCIAL PLANNING™ professional, Keith takes a multidisciplinary approach to your loved one’s financial situation—not simply in a legal, accounting, investment or insurance perspective—but across the board. This approach allows Keith to identify coordination gaps and missed financial planning opportunities that should be addressed to improve the long term financial security of the older loved one.
Potential strategies are then reviewed and analyzed to determine which combination of legal, tax, investment and insurance strategies optimize the spend down process and create a higher confidence that the planned move makes financial sense as well. Often, the creative strategies Keith suggests extends the number of years the assets will last and creates thousands of additional dollars in portfolio value to leave a larger legacy.
Keith has been advising seniors and their families on financial matters since 2008. He’s the 2020 co-president of the Northwest Suburban Estate Planning Council, on the board of directors of the Arlington Heights Senior Center, Inc., the board or NAIPC Chicago Chapter, and a regular volunteer with Clearbrook, Junior Achievement of Chicago, and BSA Scout Troop 159. He provides regular seminars and presentations throughout the Chicago area on topics related to finance and aging.
Keith and his wife Jennifer have lived in Arlington Heights for more than 20 years with their four children.
If there is ever any confusion or doubt about how finances should be handled, a professional financial planner is a great person to contact. They will ask various questions about your current situation and provide an expertly crafted outline of how to proceed, which can include the important process of power of attorney arrangements. Each person is unique, which is why financial planners apply their skills to the whole picture.