Financing Long-Term Care In New Jersey 2019
INTRODUCTION Studies show that 43% of Americans will spend some time in a nursing home. Seventy percent will require some form of long-term care be it nursing home, assisted living or home care. The cost of this care can range from $20 – $25 per hour or more for home care to $10,000 – $14,000…
Understanding Estate Planning
By Thomas D. Begley, Jr. What Is Estate Planning? Estate planning is the process by which an individual defines his or her goals for passing assets to beneficiaries and chooses appropriate tools and strategies for achieving those goals. The process begins with a careful analysis of one’s situation, objectives, and potential tax liability. Only after…
MEDICAID AND THE HOME – PART 2
by Thomas D. Begley, Jr., CELA This is the second part of a two-part series on Medicaid and the home. The previous article discussed the circumstances under which the home would be a non-countable asset, the five forms of ownership, income and real state taxation, estate recovery, risk factors, and exempt transfers. This article will…
MEDICAID AND THE HOME – PART 1
by Thomas D. Begley, Jr., CELA This is the first part of a two-part series on Medicaid and the home. The most valuable asset that most Medicaid planning clients have is their home. They also have very strong emotional attachments to the home. There are a number of strategies available…