C3 Financial Partners

“What Keeps You Up at Night?”

“What Keeps You Up at Night?” was the topic of discussion when Carolyn J. Smith and Celeste C. Moya presented to Trinity University’s current and retired faculty, as well as their staff.  Carolyn and Celeste explored how, now more than ever, the industry is seeing the need for financial strategies that can quickly adapt to changing circumstances.  The focus was on how continued increases in life expectancy are amplifying the need for proper planning and for refreshing plans that may no longer meet objectives.  Together, Carolyn and Celeste’s combined experiences bring a unique perspective to planning for longevity.

Kristine Howland, Director of Planned Giving with Trinity University, commented, “We present industry experts on a variety of financial and estate planning topics twice a year for our faculty and staff as a thank you for their good work at Trinity, which leads to an experience alumni remember and pay back with their gifts.  I could not be more grateful to Carolyn and Celeste for the hard work they put forward for an excellent presentation.   Insurance is not an easy topic to discuss.  Their slides, explanations, and real-life examples made the material interesting, understandable, and enjoyable.”

The discussion included how to:

  • Identify Your Current Life Stage
  • Protect Your Insurability
  • Diversify Sources of Income
  • Plan for a Chronic and/or Critical Illness
  • Provide for a Smoother Transition When Life Changes Occur

By identifying and managing risks, especially those that are unnecessary, estate plans can expand in flexibility and provide the peace of mind that is desired and deserved.

Carolyn and Celeste explained insurance terminology and common misconceptions to provide attendees with strategic ideas that can enhance planning.

One attendee said, “The speakers kept things interesting and provided useful and practical information.”

Summary:

1.) Prepare for predictable risks to retirement income.

2.) Consider managing some of that risk with life and long-term care insurance.

3.) Understand the importance of comprehensive retirement income planning and benefits of product allocation

Facts included in the presentation:

  • 70% of people turning age 65 will need some type of LTC services in their lifetime
  • Of those, 42% are men and 58% are women
  • Average age care is needed: Men at age 75 and Women at age 80.
  • Average number of years in care: Men – 2.5 and Women – 4
  • 63% of caregivers say their responsibilities led to working different hours, leaving work unexpectedly, and worrying about finances.
  • Only 11% of adults 65+ have LTC insurance

Source: Morningstar

About the Speakers

Director of Planned Giving

Kris Howland (graduate of Cornell University) has worked in higher education for forty-years.  Her focus is helping people with charity in their hearts turning their good estate planning intentions into impact on future generations of college students.

Carolyn Smith, CPA (graduate of Texas Lutheran University), shares insights gained over 30 years as a tax partner in charge of Private Client Services.

Senior Vice President, Lion Street Private Client Group

Celeste Moya (graduate of Baylor University) brings over 15 years of experience in life insurance product management and case design.