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April Quarterly Newsletter - 2023

Highlights of this Newsletter:

  • Save the Date for LVM's 35th Anniversary Celebration -- Thursday, June 29 in Portage, MI

  • TD Ameritrade accounts transitioning to Charles Schwab

  • Taxes due April 18

  • LVM Vault

  • Could Your Living Situation Change as You Grow Older?





Save the date to come celebrate with us:

Thursday, June 29, at the Air Zoo in Portage, MI


On Wednesday, March 22, LVM celebrated both 35 years as a wealth management firm and 25 years serving clients in our Naples, Florida, office. The celebration was held at LaPlaya Golf Club in Naples with many LVM clients able to join us.


We will be hosting a 35th anniversary celebration on June 29, 2023, at the Kalamazoo Air Zoo, a venue not to be missed. We hope all our clients and friends will be able to join us to help celebrate.





TD Ameritrade accounts transitioning to Charles Schwab on Tuesday, September 5, 2023

There will be a custodian transition that will impact many of LVM’s clients in 2023. Charles Schwab has acquired TD Ameritrade (TDA), and all TDA accounts will be transitioning to the Schwab platform on Tuesday September 5, 2023. LVM is already in the preparation process to make the transition as seamless as possible. Existing customers of TD Ameritrade will access their accounts at schwaballiance.com, which will replace the TD Ameritrade website (AdvisorClient.com) following the Labor Day conversion. We anticipate that clients who have created linking authorizations to view their spouse's accounts will have to re-authorize the privilege to view on the schwaballiance.com system. LVM will keep you posted. Schwab has a dedicated “Client Information Hub” for information concerning the upcoming conversion- www.welcome.schwab.com


Taxes due April 18th

As a reminder, your taxes will be due on Tuesday, April 18th this year because April 15th falls on a Saturday. All IRA and Roth IRA contributions for 2022 must be deposited by April 18. Also, be sure to notify your CPA or tax preparer of any qualified charitable distributions (QCDs) made in 2022.


LVM Vault

LVM wants to encourage all clients to make use of the LVM Client Vault to securely receive statements and documents from LVM and for you to send them to LVM. Please contact us about how to set up your Vault access.


Could your living situation change as you grow older?

Recent research from the U.S. Department of Health and Human Services suggests that most Americans turning age 65 will need long-term care support during their lifetimes.¹


If the need arises, how will you handle potential long-term care for yourself or a loved one? Planning for the consequences of aging in general, and long-term care in particular, will depend on your preferences and circumstances. A long-term care plan should account for the different types of care you may need and the different settings in which you might receive that care. These are the most common options:


Your Home

Given a choice, you might prefer to receive long-term care support in your own home. Family caregivers, friends, or trained homemakers could provide assistance with everyday tasks, and professionals such as nurses and home health aides could provide home health care. In addition, a variety of community support services may be available, including adult day-care centers and transportation services. In any case, receiving care at home offers a measure of independence in a familiar environment.


Community Care Retirement Communities (CCRCs)

Also known as life plan communities, CCRCs provide a range of services — from independent living to full-time skilled nursing care — all in the same location, allowing you to age in place. Most CCRCs combine housing options at one location and may include townhouses or cottages for independent living, assisted living apartments, and nursing home accommodations.


Assisted Living Facilities

If you want to remain independent but need some assistance with activities of daily living, you might choose to live in an assisted living facility. These home-like facilities offer housing, meals, and personal care services, but generally not medical or nursing services.


Nursing Homes

People who enter a nursing home usually have a disabling condition or cognitive disorder and can no longer take care of themselves. State-licensed nursing facilities offer more specialized skilled care, intermediate care, and custodial care. This is the most expensive way to receive long-term care.


Take some time to think about what the future might hold. Planning ahead can help ensure that you receive the type of care you need, in the setting that you prefer, as you grow older.

1) U.S. Department of Health and Human Services, 2021

Reasons for Care

A 65-year-old has a nearly 70% chance of needing long-term care support and services at some point. The average length of long-term care in 2021 was 3.5 years, up from 3 years in 2018. People need care for a variety of reasons, but the most common is simply the physical limitations of aging.





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