Financing Long-Term Care In New Jersey 2019
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 home for an extended…
TAX CONSIDERATIONS IN PLANNING FOR LONG-TERM CARE
by Thomas D. Begley, Jr., CELA 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 private room in nursing home –…
Financing Long-Term Care In New Jersey 2018
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 home for an extended…
PROTECTING THE HOME: USING TRUSTS TO PROTECT YOUR HOME FROM THE COSTS OF LONG-TERM CARE
by Thomas D. Begley, Jr., Esquire, CELA Studies show that 70% of Americans 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 per hour or more for home care to $12,000 per month for nursing home care. If a…