Category Archives: Estate Planning

Home Care & Elder Law – Senior Planning in New Jersey

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Expert Home Care in New Jersey - (800) 848-2336, recently interviewed Mr. Donald D. Vanarelli, Esq. at The Law Office of Donald D. Vanarelli, located in Westfield, New Jersey, providing a broad range of legal services for the elderly, the disabled and their families. They successfully guide clients through the complex areas of estate tax law, public benefits law, and court procedures.

We know that many NJ seniors often wonder “what is the difference between elder law attorneys and attorneys?” This can be confusing and many families and seniors wonder if both professionals are the same.

We interviewed Mr. Vanarelli last week and asked him to please tell us what, if any, are the differences. Mr. Donald D. Vanarelli helped to clarify the confusion for some of us who are often confused. Being a board certified elder law attorney since 1998, we thought he would be the best to help us understand “what elder law is”. 

According to The National Elder Law Foundation defines elder law in more detail, saying it encompasses each of the following areas:

  • Health and Personal Care Planning
  • Pre-Mortem Legal Planning
  • Fiduciary Representation
  • Legal Capacity Counseling
  • Public Benefits Advice
  • Advice on Insurance Matters 
  • Housing Counseling 
  • Income, Estate, and Gift Tax Advice
  • Counseling with regard to age and/or disability discrimination in employment and housing
  • Litigation and Administrative Advocacy

What Makes Elder Law Unique?
Elder Law is the only area of law defined by the clients served rather than the areas of law in which the attorney practices.

What is a Certified Elder Law Attorney?
Elder Law is a legal specialty which has been formally recognized by New Jersey’s Supreme Court through the American Bar Association’s accreditation of legal specialties program.

To learn more, please visit The Law Office of Donald D. Vanarelli.

Seniors are Unprepared for Retirement in NJ

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Call Expert Home Care provides help to seniors and elders in NJ – living independently at home. Please call 800-848-2336.

American’s lack of financial planning for the future also extends to long-term care insurance. More than half of Americans will need long-term care during their lives. But only seven percent of seniors own private insurance that could help them pay for this type of care, says the Journal of Financial Planning.

Long-term care is simply the help people need when a serious illness, injury or disability makes them physically unable to care for themselves. It can be expensive, with the cost for a year’s nursing home stay averaging $44,000 and adult day care typically $50 a day.

Medicare and Medicaid don’t cover many types of long-term care. And most people can’t afford to pay for it out-of-pocket. Consequently, family members are often left with the burden of providing care. Nearly half of adults age 50 or older provide some care to a family member or loved one, according to AARP’s “The State of 50-Plus America, 2004″. And 31 percent of caregivers quit work to care for an older person with a severe impairment, forfeiting thousands of dollars annually in wages and health benefits.

Independent Senior Living – New Jersey Seniors – 24 Hour Care

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Expert Home Care when your aging seniors in New Jersey needs live-in care, elder care, or senior home care in NJ  800-848-2336.

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Continued from our posting date August 13th – Estate Planning for New Jersey Seniors

The place seniors should start is with a complete financial inventory. This includes taking not of income, assets, expenses and even liabilities. Talk about what the senior is interested in long term. Is retirement living an option or will the family home be sold. These are important questions that should be worked out early on before a situation arises. Finally, determine what kind of insurance the senior will have as well as how much money for retirement.

Also, discuss a senior life settlement. This is an option for seniors who want to sell their life insurance policy for more than the cash value the life insurance company would give them to cash out. This means seniors can sell life settlements and get money to live their retirement on and the individual who bought the insurance policy will simply cash it out upon death.

Before making any of these serious decisions it is important for seniors to discuss their options with a professional. Lawyers well versed in senior matters or financial planers are two great resources for seniors to have their legal questions answered and to receive the help they need planning their retirement. Most of the time using an expensive attorney will be expensive in the short run but it will result in major savings down the road and is worthwhile.

Estate Planning for New Jersey Seniors – Home Health Care Help in NJ

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New Jersey Seniors worry about aging and illness as well as who will take care of their family when they are gone. Estate planning is important – it helps eliminate our worry and concern for the future of our family. With estate planning, seniors can make a plan while they are still healthy as to how their estates will be handled upon their death and they will have the reassurance knowing their families are taken care of.

There are several things seniors in New Jersey need to do, but the first and most important is to create a financial plan.

To create a financial plan it is important to consider all the different retirement issues. The plan should include:

  • Developing a retirement budget - retirement income may be reduced so budgeting is crucial.
  • The plan should address consolidating income - a discussion of how long term care would be paid for and financing options. Have a basic understanding of what will pass.
  • Investment planning should be included in the plan as well as any estate decisions that will need to be made.
  • Tax issues are also important and should be discussed and included in the plan.

Visit us soon for more Estate Planning Tips – to read full article go to Estate Planning.

Expert Home Care delivers live-in and senior help to those living with Alzheimer’s in New Jersey. Call us at 800-848-2336, if you need in-home care to safely live at home.