In the fourth part of this case-study series focusing on home equity as an effective strategy in comprehensive financial planning, we will look at real-life scenarios to explore how using a reverse mortgage as an income tax-free source of revenue can help bridge the gap when delaying social security benefits, or distributions from deferred investment accounts. We will also look at how to create a guaranteed revenue stream similar to an annuity. Participants will learn how they can use the reverse mortgage program as a pro-active planning tool, and will create strategies for turning dormant equity into solutions and opportunities they can present to clients as viable safeguards in their estate and legacy plans.
Overview: General review of subject from a broad perspective/ dive into basic knowledge on a skill or topic. For newer CFP® professionals or unfamiliar with subject.
May 07, 2020
- Discuss broad-based knowledge of the reverse mortgage product.
- Identify risks in clients' financial plans that could be mitigated by including home equity into the planning process.
- Outline opportunities to enhance a later-life asset and income distribution plan.