SPECIAL PROBLEMS AFFECTING THE ELDERLY – PART 2
by Thomas D. Begley, Jr., CELA This article continues the discussion of special problems for the elderly. (Here is a link to Part 1.) Long-Term Care. About 70% of Americans will require some form of long-term care be it home care at $28 to $30 per hour, assisted living at $6,000 to $12,000 per month,…
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…
New Study Reveals Medical Dangers of Isolation
[Originally published in the NAELA eBulletin] Those who are socially isolated are over 40% more likely to have a cardiovascular event, such as a heart attack or stroke, than those who were socially integrated, new research has shown. The German study, presented May 23, 2020 at the European Academy of Neurology (EAN) Virtual Congress, found…
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…