This question was addressed on Workforce50, where the primary options: 1. Elder stays at home and enlist outside help i.e. a friend, relative, living companion, government, charitable, or a home care agency service to help the elder with their needs. 2. Move to an independent living facility, apartment or condo that does not require as much care, on one floor instead of two, or is handicapped-accessible. 3. Move in with you or some other relative or friend. 4. Enter an assisted living facility where people live as independently as they can for as long as they can, but where services…
With our thoughtful, realistic planning, caring for an elder does not have to be a financial or emotional nightmare. We, help you make the right choices for you and your loved one, you are not alone!
We are here to help you, if your family is too remote or to busy to help you. We provide a case-by-case understanding of what options and resources are available, and how to connect you with the services you need.
At Senior Life Care Planning, we suggest if they are still resisting change, or if your relationship is deteriorating, a professional, such as Senior Life Care Planning’s care coordinators can assess the situation and provide you with independent advice.
Long-term care insurance (LTCI), also known as nursing home insurance, is the only form of insurance that will pay for long-term nursing home care. If you are single, the odds are 50 percent that you will need long-term nursing home care at some point in your life. If you are age 65 and married, the odds are 75 percent that you or your spouse will need long-term nursing home care. The average nursing home stay is 2.5 years, at an estimated national average of more than $75,000 a year. And yet, most people do not have long-term care insurance. One…
Strategic use of life insurance frequently is a key aspect of comprehensive estate planning, solving a wide variety of estate planning challenges from providing liquidity to pay estate taxes, to charitable bequests and ensuring the continuation of a closely-held business. One of the key characteristics of life insurance, however, making it such a versatile estate planning tool, is preferential tax treatment. Properly structured, life insurance proceeds pass tax-free to beneficiaries, and earnings on investments held within certain types of “permanent” life insurance also generally accrue tax-free. According to a recent article in The Wall Street Journal, there is some national…
I ran across an article at New Jersey online last week with advice about how to pick a team of professional financial advisors. I was pleased to see the writer included estate planning attorneys as part of your essential advisory team! I also thought some of their tips for choosing an attorney were worth passing along: Think about your needs and then find an attorney who specializes in meeting them. For example, if you have elder-care issues, or tax concerns, find an attorney who is experienced at resolving issues similar to yours. Visit the websites of some of the professional…
If you’re a small business owner, you’re probably ready for a little good news right about now. The 2010 Small Business Jobs Act has some tax changes that could affect you – in a good way. Forbes writer Robert W. Wood gave a good run-down of the highlights last week, to include: Small Business (Section 179) Expensing. Under the old rules, you could generally expense up to $250,000 of certain property placed in service during the year. But for tax years 2010 and 2011, the limit is increased to $500,000, and can include up to $250,000 of qualified leasehold improvement,…
Senior Life Care Planning finds and accesses services for veterans, through VA benefits, and seniors through Medicare, Medicaid and other governmental or private resources. We also help identify, coordinate, assist and advocate on various issues i.e. housing, assisted living facilities, nursing homes, social and caregiver support. Additionally, we provide support services for seniors, families and caregivers, coping with the stress and issues with individuals with diseases including Alzheimer’s disease or related dementias, Parkinson’s disease, and other elderly diseases. The family dilemma is caring for your loved ones, with limited time, money and energy. Additionally, families are living in different areas…
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