Tag Archives: senior planning NJ

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

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.