Long-term care planning is essential if a person wants to ensure they will be able to afford the help they'll need in their old age. Some people will need in-home care. Others might live in an assisted living facility or a nursing home. While some may be relying on...
Month: April 2018
Make estate planning and care planning a priority
Young or even middle-age adults in New Jersey may think that since retirement is decades away, they can wait to execute an estate plan or care plan, and even retirement planning in these early years is not so important. However, retirement planning and estate planning...
What to do – and not do – in a Medicaid spend-down
If your parents live in New Jersey and you think they may need to move to a nursing home or an assisted living facility in the future, it is in their best interests and yours to start planning early for this eventuality. Why? Because annual costs for these facilities...
Qualified income trusts can be part of Medicaid planning
Medicaid benefits can be very important for those who need long-term care, but applicants must have a limited income in order to qualify. New Jersey residents in such situations may fear that they will be ineligible for Medicaid, because their income is too high....
A power of attorney may be preferable to a court-ordered guardian
Throughout our lifetimes, we will make many important financial decisions. From the first time we open a bank account as a teenager, to funding a retirement plan as a working adult, to making simple decisions about how to spend our hard-earned money, most people in...