Protecting The Home: Using Trusts To Protect Your Home From The Costs Of Long-Term Care – Begley Report
by Thomas D. Begley, Jr., Esquire, CELA 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…
Financing Long-Term Care in New Jersey 2020 – Begley Report
by Thomas D. Begley, Jr., Esquire, CELA Statistics show that approximately 70% of the population age 65 or over will require some form of long-term care. Some will be there for relatively short periods of time. These are usually stroke or accident victims or surgery patients who are doing rehabilitation. A significant percentage will remain in a nursing…
ADVANTAGES AND DISADVANTAGES OF ABLE ACCOUNTS
by Thomas D. Begley, Jr., Esquire, CELA Congress enacted and the President has signed legislation known as the Achieving a Better Life Experience (ABLE) Act of 2014.[1] The Act is modeled on 529 Plans and will provide tax-favored accounts for individuals with disabilities to pay for qualified expenses. Before these accounts can be implemented, two…
TAX CONSIDERATIONS IN PLANNING FOR LONG-TERM CARE
by Thomas D. Begley, Jr., CELA [Article originally published in Straight Word] Long-term care in New Jersey is expensive. According to Genworth, in 2017 monthly costs of care in New Jersey were as follows: homemaker services – $4,195, home health aide – $4,385, assisted living facility $5,811, semi-private room in nursing home – $10,038, and…