Senior Living Straight Talk

As the year-end approaches, tax planning is top of mind for many seniors. In this episode, host Vivian Arias sits down with Nadia Keric, a Certified Financial Planner specializing in family wealth management, estate planning, and charitable giving strategies, to discuss the most impactful tax changes for seniors to consider before 2025.In this episode, they discuss:Required Minimum Distributions (RMDs): Key points for compliance, including how timing can maximize interest and minimize penalties.Charitable Giving from RMDs: How seniors with charitable interests can leverage RMDs for tax advantages.Tax Bracket Strategies: Managing various income sources to optimize tax brackets, potentially reducing tax liabilities.Tax Deductions in Life Plan Communities: Leveraging the initial and ongoing medical expense deductions available in Life Plan Communities.Estate Planning Changes: Important changes to the federal estate tax exemption and strategies for high-net-worth individuals ahead of 2025.Year-End Checklist: Essential actions for seniors to maximize tax benefits, including tracking medical expenses, charitable contributions, and reviewing capital gains implications.Memorable Quotes:"For clients with charitable intent, using RMDs to make direct donations can provide a significant tax advantage.""Transitioning to a Life Plan Community offers ongoing medical expense deductions, often overlooked but highly beneficial for tax savings.""Upcoming changes to the estate tax exemption and tax brackets mean now is the time to plan for a seamless transition into the post-2025 landscape."Resources:Find out more about Vi Living at our Website: https://www.viliving.com/

Choosing the right senior living community is a big decision, and knowing the financial stability of the community is essential! Today’s guest, Joe Chambers, the AVP of Sales for Vi, discusses how to determine the financial stability of a Continuing Care Retirement Community (CCRC). Joe has more than 30 years of experience in the senior living industry, including 15 years with Vi in various roles.In this episode, they talk about:The importance of knowing occupancy rates when evaluating senior living communitiesHow to check the financial stability of different senior living optionsThe difference between for-profit and not-for-profit senior living communitiesKey questions to ask to ensure that a senior living community is financially stableThe impact of state regulations on the financial stability of senior living communitiesVi Living’s position as a debt-free CCRC and the benefits it provides to the residentsMemorable Quotes:“Occupancy is the main driver for the financial success of any senior living community because occupancy drives the monthly fees that pay the bills that provide the lifestyle that the residents have signed up for.”“You want to make sure that that community is going to be there for you when you need that care, right? So make sure that not only have they had a history of positive financials, but they’re also going to continue to have that.”“If you’re going to choose to live in a senior living community, that’s in theory for the rest of your life; you want to make sure that community is financially stable for the rest of your life.”“At Vi, we’re completely debt-free, so we’re a bit of an anomaly in the industry. We operate completely debt-free, and our residents do not pay debt service, which is a benefit.”Resources:Joe Chambers on LinkedIn: https://www.linkedin.com/in/joe-chambers-1302817Find out more about Vi Living at our Website: https://www.viliving.com/

As you get older, estate planning becomes important. But let’s be honest – it can also be pretty daunting. That’s why it’s crucial to have the right team of professionals in your corner, guiding you through the process.  Today’s guest on the show is Ed Wollman, Estate Planning Attorney - Board Certified in Wills, Trusts & Estates by The Florida Bar and Founding Partner of Wollman, Gehrke & Associates, P.A. law firm. Pam sits down with Ed Wollman to discuss building a solid Trust Dream Team as part of your estate planning.In this episode, they talk about:Trust dream team – a group of professionals working together to help you with estate planningWho should be in the trust dream team – financial advisor, accountant, attorney, insurance agent, etcImportance of selecting the right team members through interviews and credential checksImportance of communication and regular group meetings among team membersChallenges and best practices around involving family members in the processImportance of clear communication and understanding between clients and advisorsMemorable Quotes:“We can’t all be experts in everything, so we need to surround ourselves with the experts that make us feel comfortable.”“One of the things that is pretty obvious is now that the Internet has become so prevalent. Everything’s faster, and everything is digital, and everything’s available. So everyone thinks you can get the answers online, but nothing beats personal touch.”“We don’t read each other’s minds. If you get a feeling like you’re being either ignored, or you need extra, or you’re being provided with too much information, just communicate. This is your money. This is your life. This is your family. Please communicate and let your team know how you feel about how things are going.”Resources:Edward E. Wollman | Naples Estate Planning Lawyer: https://www.probate-florida.com/our-firm/our-attorneys/edward-e-wollman/ Find out more about Vi Living at our Website: https://www.viliving.com/

The key to successful aging could be as simple as choosing the right retirement community. Continuing Care Retirement Communities (CCRCs) are more than just a place to retire – they offer a wealth of health benefits that can help seniors age more successfully. Tony Galvin, AVP of Living Well for Vi, discusses the health benefits of living at a CCRC – a supportive environment, improved physical and cognitive well-being, and a holistic approach to aging. In this episode, they talk about:The health benefits of living at a continuing care retirement community (CCRC)Living well philosophy and approach of Vi Living to support holistic wellness for residentsThe value of involving residents in the programming and activity choices to make experiences relevant and motivating for themThe role of healthy eating, cooking, and nutrition in supporting cognitive well-being and social interaction for aging seniorsProgramming and aging well trends that will become popular as baby boomers move into CCRCsThe need to provide evidence-based, research-driven wellness programmingMemorable Quotes:“Seniors that live in CRCs, in particular, those kind of like Vi that have robust health and wellness programming and initiatives, age more successfully than those that don’t.”“The relationship aspect of what it means to live at a life plan community, at a CCRC, is probably really the cornerstone of why there’s so much benefit.”Resources:Tony Galvan on LinkedIn: https://www.linkedin.com/in/tony-galvan-7674b02b/ Find out more about Vi Living at our Website: https://www.viliving.com/ 

Mellany Hanson, Gerontologist and Lifestyle Director for Vi, discusses how Vi supports the cognitive health and well-being of its residents through the Brain Vitality Studio. Mellany also talks about the concept of exergaming, how it can help aging adults with cognition, and the importance of brain health. She explains how the community at Vi uses a holistic approach to help residents maintain their cognitive and physical abilities.In this episode, they talk about:Exergaming and how can it help aging adults with cognitionVi’s Brain Vitality Studio to focus on cognitive and motor skill trainingThe six pillars of AARP’s Global Council on brain health and how they impact brain healthThe concept of dual-tasking — combining cognitive and physical tasks to improve brain healthTypes of activities in Vi’s Brain Vitality StudioKey findings from the case study conducted at a Vi community and how it guides the development of programming for the Brain Vitality StudioThe partnership between Vi and the Pacific Neuroscience Institute Foundation and its benefits for the residentsMemorable Quotes:“Our goal at Vi is to provide the information and environment that adults want so they can achieve a brain-healthy lifestyle.” “As people live longer. We need clear, science-based ways to support brain health. And we know that lifestyle choices, such as dual tasking, can have a profound impact on our brain health.”Resources:Pacific Neuroscience Institute Website: https://www.pacificneuroscienceinstitute.org/ Find out more about Vi Living at our Website: https://www.viliving.com/

As people age, it becomes challenging to find purpose post-retirement. But, research shows having a sense of purpose is key to healthy aging. Continuing Care Retirement Communities (CCRCs) may help provide that purpose. Jonathan Schwartz, founder of Partner in Aging, discusses how CCRCs help seniors embrace new opportunities, passions, and connections in retirement to achieve purpose and fulfilment in life!In this episode, they talk about:How having a sense of purpose is linked to a longer and healthier lifeHow CCRCs help residents find purpose and live longer & healthier livesBlue Zones areas (where people live longer & healthier lives) and some traits common to those areasHarvard University study on what makes for a long, happy, and healthy lifeWhy would someone consider a CCRC instead of aging in place at home if they can afford home careHow can CCRCs help to make a person’s quality and quantity of life betterMemorable Quotes:“The single biggest predictor for a long, happy, healthy life is the relationships that we have. And as we age, we start to lose our community, we lose our connections, and moving into a CCRC can absolutely enhance that, which is so important for healthy, happy living.”“Just because I’m 77 years old does not mean I still don’t have hopes, dreams, and aspirations.”Resources:Partner in Aging Website: https://partnerinaging.com/ Jonathan Schwartz on LinkedIn: https://www.linkedin.com/in/jonathan-schwartz-b2a1771a/ Find out more about Vi Living at our Website: https://www.viliving.com/

Today’s guest on the show is Jeneissy Azcuy, the Senior Vice President of Marketing, Communications & Education Outreach of South Florida PBS. She discusses the impact of senior influencers on PBS, the voice of seniors, what it means to PBS, and the rising interest in artificial intelligence and neuro-arts among seniors. Tune in to learn about how PBS engages seniors and enhances their lives through various programs and interactive experiences!In this episode, they talk about:How PBS understands the needs and wants of seniors and incorporate them into their broadcast and live programmingSome senior-focused programs PBS has created recently — health research series, shows about menopause, arts, etc.The new AI for Seniors program of PBSWhat baby boomers and the next generation of seniors mean for PBSHow PBS engages and stimulates seniors using art, music, and the upcoming Leonardo da Vinci documentaryMemorable Quotes:“Using art in all its forms to help people with mental health and be continued to be engaged and stimulated by the content.”“We continuously try to adapt their programming strategy based on their input and their needs. And we really try to be a valuable community resource to enhance their quality of life.”“We’re constantly thinking of how to immerse our viewers in our content so that it’s not passive watching or passive listening. It’s active and immersive. You actually get to do things with what you just learned. So you want to enjoy it, you learn from it, and now you apply. And that is so wonderful and so beneficial for the brain.”Resources:Jeneissy Azcuy on LinkedIn: https://www.linkedin.com/in/jeneissyazcuy/ South Florida PBS Website: https://www.wpbt2.org/ Find out more about Vi Living at our Website: https://www.viliving.com/

Join Theresa Latosh as she interviews Dr. Taib Rawi, President and CEO of Aligned Geriatrics, about the role continuing care retirement communities (CCRCs) play in supporting the overall health & well-being of senior living residents as they age. Tune in to know how CCRCs empower seniors to healthy aging of both body and mind in place with customized care that meets their evolving needs.In this episode, they talk about:Challenges the current aging population is facing in today’s healthcare system and how CCRC addresses themHow does living in a CCRC help sustain the health of its residentsBenefits of living in a CCRC model — on-site medical care and care teams familiar with residents’ needs, which help sustain their health as they ageHow does living in a CCRC impact intellectual, emotional, and social well-beingHow does a CCRC bring together a sense of collective wellness for its residentsMemorable Quotes:“Living within these communities as CCRCs provide opportunities for lifelong learning for educational workshops, oftentimes having speakers coming in from different healthcare organizations, and engaging with our residents to promote ongoing critical thinking and creativity.”“CCRC provides a supportive environment for residents to continue forming meaningful connections and maintaining a social support network that allows them to engage with their peers.”Resources:Dr. Taib Rawi on LinkedIn: https://www.linkedin.com/in/drtaibrawi/ Aligned Geriatrics Website: https://alignedgeriatrics.com/ Find out more about Vi Living at our Website: https://www.viliving.com/

If you want to pass down your assets to your loved ones, gifting is a great way. But there are certain laws and restrictions that you need to be aware of. Today’s guest, Diana Kahn, talks about the things you need to know about gifting to heirs — the laws and limits of gifting, taxable and non-taxable gifts, what and when to gift, and more!Diana Kahn is the president and founder of the Financial Pharmacist. She has nearly three decades of experience as a certified financial planner.In this episode, they talk about:Gifting to heirs tax laws and limits in the United StatesGifts that are not taxable and the tax limits and triggersThe pros and cons of gifting to heirs during one’s lifetime vs. waiting until the estate is settled after deathVehicles available for gifting to heirs — 529 plan, paying medical/education expenses, etcThe concept of an ethical will to pass down family stories, values, legacy, etc.Is planned gifting to heirs only for the wealthyFactors to indicate that your gifting strategy is in placeMemorable Quotes:“If the money can stay with the family, why should it go to Uncle Sam?” “Planned giving to heirs is not only for the very wealthy... gifting strategies are for everybody.” “No clients should give gifts to the extent that it really hampers their own downtime years or their own retirement years.”Resources:Financial Pharmacist Website: https://www.thefinancialpharmacist.com/ Diana Kahn on LinkedIn: https://www.linkedin.com/in/diana-kahn-cfp%C2%AE-0ba50426/ Find out more about Vi Living at our Website: https://www.viliving.com/