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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…

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At What Age Should I Consider Long Term Care Planning?

While everyone’s situation is different, in general, once you reach 50, you should start to think about long term care planning. According to recent studies, approximately 43 percent of all people will need long-term care at some point in their lives. The cost of this care in New Jersey and Pennsylvania is high, and rising…

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“I Want to Protect My Home”

By Marianne Johnston, Esq. Those are the first words out of the mouths of many of our clients when we discuss long-term care planning.  The value of the primary residence is often a substantial portion of a person or couple’s worth.  Parents wish to preserve the value of that asset for their children. There are…

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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,…

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