In a recent survey conducted by the Investor Protection Trust (IPT) and Investor Protection Institute (IPI) it was determined that older Americans are “very vulnerable” to investment fraud or financial exploitation. Accordingly, the top three financial scams are 1) “theft or diversion of funds or property by family members,” 2) “theft or diversion of funds or property by caregivers,” and 3) “financial scams” perpetrated by strangers.” So, how well prepared are older adults to find someone to advise them on their finances? Survey says, not very well!
For that reason, beginning on Wednesday September 26, Splendido at Rancho Vistoso, 13500 N. Rancho Vistoso Blvd, Tucson 85755, will host a free weekly series of eight Estate Planning Workshops, presented by Milton Ames, Financial Coach, and sponsored by the American Heart Association, the American Red Cross and the American Bible Society. The workshop will run for eight consecutive Wednesdays, 11 a.m. to 1 p.m. The first 1/2 hour will be a buffet lunch and the remaining 1 1/2 hours are allotted for each speaker and any questions.
With 30 years in the financial services industry, Mr. Ames says he has observed the disservice many seniors have endured because no one took the time to teach them about the things they need to know. Now that he is semi-retired, he says he is, “determined to combat the financial illiteracy that makes the older population so vulnerable.”
Skilled community experts volunteer their time in these workshops twice each year to help older adults understand how to take care of their own finances and estate planning.
The main purpose of the workshop is to help individuals, family members, trustees and/or personal representatives decide where to leave their money. Professional fiduciary experts will help attendees understand the nuances of various financial and estate planning tools.
The topics will cover a range of estate questions and will be taught by local industry experts with no selling allowed – so no pressure, we will cover a wide range of topics. While the workshops are free, participants must RSVP to Splendido to ensure space is available, 878-2612.
Splendido is a joint venture of Mather LifeWays, a non-denominational, not-for-profit organization headquartered in Evanston, Ill., that creates Ways to Age Well (SM) for older adults, and the Plaza Companies, an Arizona-based leader in senior living communities and healthcare facilities. Splendido offers all-inclusive, resort-style living for adults 55 years and better through the 10,000-square-foot Saluté Spa & Fitness Center, indoor and outdoor swimming pools, 24-hour concierge service, multiple restaurants and venues, an 18-hole putting course and cinema. In 2008, Splendido opened the Sonora health center, which offers a full continuum of care. To learn more about Splendido, call 878-2612 or visit www.splendidotucson.com.
What: In this free, eight-week series, estate-planning experts will cover estate planning basics; advanced health care directive; conservatorship and power of attorney over assets; advanced estate planning; charitable income and tax planning issues; IRA, 401k, 403b and 457 plans distributions, and the role of a trustee and executor.
When: September 26
October 3 - Estate Planning Basics
October 10 - Advanced Healthcare Directive/Conservatorship
October 17 - Estate Planning Advanced
October 24 - Charitable Income & Tax Planning Issues
October 31 - Retirement Plan
November 7 - Role of Trustee & Personal Representative
November 14 - Case Study & Course Review
RSVP: Space is limited, RSVP by calling 878-2612.