Category Archives: Long Term Care Planning

New Jersey Eldercare Crisis – Long Term Care Planning

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New Jersey’s Expert Home Care for Elders and Seniors provides care for your aging loved ones since 1984. Please call us when your loved one needs help – 800-848-2336.

Crisis of Eldercare

Eldercare providers and advisers who deal with the public know the need for long term care. An elder crisis in NJ can often arise without warning. In many cases, desperate family caregivers are frantically trying to find services, advice or care funding sources to help their loved ones with unexpected long term care needs.

This sudden need for help often occurs when the loved one needing care has recently demonstrated unsafe behavior, or there has been an injury or sudden illness or there is a pending release from nursing home rehab or the current caregiver can no longer cope. Help must be found right now.

Unfortunately, many family caregivers, operating in crisis mode don’t know where to turn for help. It’s not that there aren’t advisory services out there to help them, it’s just that the caregivers often don’t know where to find these services.

NJ Senior Tips for Home Care Savings

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New Jersey’s Expert Home Care for Elders and Seniors provides care for your aging loved ones since 1984. Please call us when your loved one needs help – 800-848-2336.

Resources for Seniors in New Jersey

Why live should New Jersey elders live within their means or live frugally? First, because it allows you to spend less than monthly income. You can use the difference to pay off debt, save or invest. Seniors in NJ have more options with a frugal lifestyle.

Look for used first. If you need something for your home or closet, see if someone you know has one that they don’t use or need anymore.  Try making a few phone calls to a family member or friend, or simply ask around. A senior we know was looking to purchase a laptop, and then found out his daughter was given a new computer laptop at work and no longer needed hers. If no one you know owns whatever you are trying to purchase, consider going online to freecycle.org or craigslist.org. Then look to buy used, at garage sales or thrift shops. You can find a bargain if you look around.

Read more Senior Care Savings Tips in New Jersey

NJ Elder Care Planning – Social Security Benefit Strategies

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Expert Home Care provides live-in care, personal services, companion care, and homemaker services to elders and seniors living in New Jersey.  Call us today at (800) 848-2336.

We found an interesting article about Social Security and “when” to sign up for it’s benefits. Some people are taking the lower benefits but getting them earlier, at age 62, while other Americans are choosing to take the benefits later.. giving them a larger sum of retirement income. Which do you choose? Here’s an interesting article that might inspire retired New Jersey seniors to look at social security and it’s benefits differently.

3 Unusual Strategies for Claiming Social Security Benefits by Emily Brandon

If you are debating on what age to sign up for Social Security, this is probably the most important retirement decision you make. Social Security is the largest source of income for over half of retirees, and the age you begin receiving payments can vastly affect the amount of money you receive over your lifetime.

Strategy 1: Borrow and Invest

If you sign up for Social Security at age 62, you receive reduced benefit payouts for life; that is, unless you can afford to pay the money back. If you return every cent you’ve already received, without interest, you can qualify for higher payments for the rest of your life.

Strategy 2: Claim Now, Claim More Later

A married worker with a retired spouse can claim a spousal benefit at full retirement age and then switch to his or her own benefit at a later date.

Strategy 3: Claim and Suspend

A spousal benefit is generally equal to half of the higher earner’s due, although claiming it before full retirement age diminishes the amount of the benefit.

Read the full story on Strategies to sign up for Social Security.

NJ Live In Care Planning – Long Term Care

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Continuing the real story of Senior Planning for long term care by a long distance family caregiver. Visit our blog post September 21 to read Part 1.

Expert Home Care in New Jersey – Providing Live-in Care for elders in NJ. Call (800) 848-2336.

We consulted a lawyer to determine how to proceed, and were informed that with regards to distributing her estate assets after death, there was nothing that we could do, and this responsibility would fall to the government. Unfortunately, as we were told, this could result in actions that were not coherent with her wishes.

After this scare, we felt helpless and were very distressed that we were not able to legally abide by my mother’s wishes during her recovery process; fortunately, she did have some insurance coverage and our family did have some savings to cover her hospital care and rehabilitation program.

My mom ultimately made a pretty miraculous recovery, and seemed to return to her normal self. Once she was legally able to do so, she went to a lawyer and prepared two legal documents; a Living Trust and a Last Will and Testament to ensure that, should her health fail again, we were well prepared and legal able to carrying out her needs. I’ve also learned through this situation, and have prepared a will of my own; something I now realize I should have done a long time ago.
 
http://www.associatedcontent.com/article/25914/creating_a_legal_will.html?page=3&cat=17

Senior Crisis – Long Term Care Planning in NJ

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FAMILY CHALLENGES WITH LEGAL WILLS

A long distance family caregiver asked Expert Home Care to provide in-home, non medical care for her mother, age 78. Her mother had not planned well for aging, therefore left the daughter to carry the bulk of her care and long term planning. She tells us her story…

When my mother fell ill in her late 70’s, our family encountered a number of challenges in dealing with her medical care and associated finances. Unfortunately, after having a stroke, she was no longer in a sound mind to determine what she wanted in terms of her medical care, and we were unable to access her finances that we knew she had set aside for emergencies of this type. 

My mother had previously discussed her wishes regarding long-term care should the need arise, as well as her limitations regarding resuscitation; and while it had been in her mind to create a Living Will to legally document her requirements, she never got around to it before this crisis hit and that made the whole process all the more difficult.

The doctors seemed to be under the impression that she would pull through, but she also hadn’t created a Last Will and Testament, and not being in a “sound mind” would not be able to put this together legally in order to distribute her assets and finances should a tragedy occur.

Visit tomorrow to read the full story.

Expert Home Care – (800) 848-2336.

Aging NJ Seniors – Home Care Planning

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Expert Home Care delivers home health services to seniors at home. We help seniors live at home safely and independently in New Jersey. Here’s more information on whether you should consider a will or a living trust for your estate planning in NJ. We can be reached at  (800) 848-2336.

NJ Seniors Seek Simple Wills

You probably have read and heard throughout your life that if all you is take care of your legal affairs, you should write a will. That’s great advice. Keep in mind that when you don’t make a will before your death, then state law will determine who gets your property – the bad news it may not be whom you would have chosen!

What might be worse.. is a judge may decide who will raise your children. In your will, you can make these decisions yourself. Forget the fancy trusts you’ve heard about: most people can get by with only a basic will.

Maybe all you need is a basic will, you can confidently use a good self-help book or software to make a legally binding will that:

  • leaves your property to the people and organizations you choose
  • names a guardian to care for your minor children if you can’t
  • names someone to manage property you leave to minor children (yours or someone else’s), and
  • names your executor, the person with authority to make sure that the terms of your will are carried out.

http://www.nolo.com/resource.cfm/catID/FD1795A9-8049-422C-9087838F86A2BC2B/309/

NJ Long Term Home Care Planning – Wills or Living Trusts

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Expert Home Care delivers elder care services to the home. We help seniors in New Jersey plan for long term care. Here’s more information on whether you should consider a will or a living trust for your estate planning in NJ. We can be reached at  (800) 848-2336.

Wills

Wills are easier to set up. Wills can be less expensive to create and change. It allows you to name a guardian to care for minor children, something that’s not possible with a living trust, unless you implement a supplemental document with the will.

If you have debts, creditors face a cutoff date for bringing claims against your estate. They cannot seek assets from beneficiaries once ownership is transferred.

Living Trusts

For smaller estates, the setup and maintenance costs for a living trust may outweigh any “after “death savings. Yet estate planning attorneys, may say that a living trust is a more economical route, especially for those having an estate over $2 million for the 2008 tax year.

A will speaks for you only after you die. A living trust can help you while you’re alive a living trust can sometimes minimize probate at death.

Seniors in NJ should keep in mind when determing which to put in place that neither will change how property you own with another person is distributed at your death. And neither will affect assets with a designated beneficiary, such as individual retirement accounts or life insurance.

New Jersey Seniors – Beware of scams!

Beware of “free lunch” estate planning seminars and other scams that suggest that AARP endorses living trusts. AARP does not sell or endorse any living trust product. And trusts sold through these schemes often are more costly and don’t comply with state law.

Senior Long Term Planning – Wills or Living Trusts

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Planning for home care in New Jersey can be difficult for most seniors. Deciding “how” to distribute your assets is another challenge for most aging Americans… Expert Home Care NJ has helped many seniors figure out “how to live independently at home and plan for the future when you can no longer care for yourself”. Call us when you need assistance with homemaker needs at (800) 848-2336.

Let’s talk about Wills or Living Trusts – most NJ elders and seniors cringe when thinking about which one is best for their assets.

The first answer to think about is who will get your money, your property, or even your favorite diamond ring or heirloom when you’re gone? We don’t like to dwell on these questions. The evidence? Few Hispanics have the main documents used to distribute property after death: only one in four has a will, and one in fivehas a living trust.

Yet if you decide early on exactly who gets what could relieve your loved ones of a the burden. After all, if you don’t decide, the government will. And you don’t want to go down that road!

Many seniors consider a will the best tool when making their wishes known to relatives. And in their opinion, the will is the best tool to carry out those wishes. That may be true in many cases. But according to some experts, a living trust, alone or with a will, offers a better solution.

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.

NJ Planning for Seniors’ Travel

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Home Care & Home Health in NJ – Call us for homemaker & personal care services, and live-in care – (800)848-2336.

Millions of older Americans love to travel and continue to do so. There are virtually no external limits on where you can go and what you can do. Here are some ideas to help you get the most out of your travels.

Choose your travel companion(s) wisely. With whom will you be traveling? If traveling with someone other than a spouse or partner, be sure you’re all compatible. You will spend a lot of time together, and flexibility is the key.

Be clear about the kind of travel experience you want. Do you want to relax, study, visit family and friends, volunteer, have an educational experience, or perhaps a combination of these?

Research the areas you will visit. Check seasonal weather conditions and the cultural climate. What time of year you will be traveling and how long will you be gone? Remember, when in Rome …

Know your budget. Are you looking for wonderful experiences on a modest budget or will it be first class all the way? Don’t underestimate costs. If on a tour, know what charges to expect. Read the fine print and ask good questions.

Be up-to-date on international currency exchange rates.

Consider your health. Do you or your traveling companions have health issues to consider? Plan ahead for any medical concerns that may need to be addressed along the way.

Be prepared to be flexible. How will you handle cancelled or delayed flights? Are you OK with eating as circumstances permit and adventurous about the kinds of food you will encounter? Â