Financial Advisor Planning
For today’s retirees, Lifecare is a smart financial decision
Asset Preservation and Peace of Mind
The smart strategy is to plan for the future by locking in a discounted rate for multiple levels of long-term care. When your clients choose RiverWoods, they benefit from asset preservation and financial security.
Our communities offer a variety of innovative, refundable contract options with 70-90% of the original entrance fees refundable. This refundability ensures asset preservation.
The Lifecare or Continuing Care Concept
Continuing Care (also known as Lifecare) Communities are an insurance product. The contracts and financials are regulated and reviewed in New Hampshire by the State Department of Insurance.
Lifecare welcomes new residents age 62 or better to independent living homes and provides a wide variety of services and amenities including access to enhanced levels of healthcare, if and when it’s needed.
In these engaged communities, residents enjoy maintenance-free living, a wide variety of social activities, diverse fitness opportunities, and flexible dining options.
Moving to a community at a younger age allows residents to truly make the most of their experience. There are plenty of activities and intellectual pursuits like golfing, hiking, gardening, art studios, woodworking, lectures, clubs, and committees to become involved with alongside other residents.
One of the greatest benefits is easy access to long-term healthcare. Independent living residents benefit from easy access to our on-site Wellness Clinic, staffed by a Nurse Practitioner. When and if residents need more assistance, they can transition to Assisted Living, Memory Support, and Enhanced Assisted Living.
Download a Copy of This Free Resource
Designed to be used by financial professionals as well as individuals.
Download the Insider’s Guide Workbook.
Need more copies? No problem. Call us toll-free at (800) 688-9663.
The Financial Advisor’s Road Map
by Kevin Goyette
Chief Financial Officer
The RiverWoods Group
A white paper for financial professionals interested in effectively analyzing the financial strength of different CCRCs.
The Financial Advisor’s Road Map for Evaluating a Continuing Care Retirement Community
Tax Advantages
There are many financial implications to consider before moving to a CCRC. Becoming a resident at RiverWoods may present worthwhile tax and financial advantages.
Pre-Paid Medical Expenses
A portion of the one-time entrance fee may be deducted on a federal tax return as a prepaid medical expense. A portion of the monthly service fee may also be deducted.
RiverWoods engages an outside expert each year to calculate the specific amount of the monthly service fees that may be deductible as a medical expense on federal tax returns.
New Hampshire’s Tax Advantage
New Hampshire is one of the most attractive states to retire in, due to its appealing tax profile:
- No general sales tax.
- No state income tax.
- No state estate tax.
- No capital gains tax.
- Lowest tax burden of any New England state.
- In the Top 10 of Lowest Tax States in the US. (www.taxfoundation.org)