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Category: Elder Law, Estate Planning, Estate and Inheritance Tax, Business Law and Planning, Tax Law and Planning, Probate and Estate Administration, Financial Planning, Miscellaneous Musings
Thoughts and comments on Business Law, Elder Law, Estate Planning and Tax Law...
Category: Elder Law, Estate Planning, Estate and Inheritance Tax, Business Law and Planning, Tax Law and Planning, Probate and Estate Administration, Financial Planning, Miscellaneous Musings
Category: Tax Law and Planning
Category: Business Law and Planning
Category: Financial Planning
Category: Elder Law
MediLexicon News - It's A GO! New Jersey State Combines Medicaid Waivers For Seniors & Adults With Physical Disabilities: "Department of Health and Senior Services (DHSS) Commissioner Heather Howard announced today the State has received approval from the U.S. Centers for Medicare and Medicaid Services to consolidate three Medicaid-supported home and community-based service programs currently operated by DHSS into a single program known as Global Options (GO) for Long Term Care."
Category: Financial Planning
Labels: Financial Planning
Category: Elder Law, Estate Planning, Estate and Inheritance Tax, Business Law and Planning, Tax Law and Planning, Probate and Estate Administration, Financial Planning, Miscellaneous Musings
Category: Miscellaneous Musings
NEW YORK: Lehman Brothers Holdings and Bear Stearns, the Wall Street firms most dependent on the fixed-income market, crowned their best year with record fourth-quarter earnings, bolstered by corporate bonds and derivatives.
Profit at Bear Stearns rose 38 percent to a record $562.8 million, and Lehman's earnings rose 22 percent to $1 billion in the quarter ended Nov. 30. While both beat analysts' estimates, they lagged behind Goldman Sachs Group, which reported a better- than-expected 93 percent jump in quarterly profit this week.
Category: Miscellaneous Musings
Category: Estate and Inheritance Tax
Category: Elder Law
Average long-term care costs have jumped between 5 percent and 13 percent
nationwide since 2006, according to a study released today.In New Jersey, the average daily rate for a private room in a nursing home in the Somerset area is $280 per day, or $102,200 annually, according to the "2008 Long-Term Care Cost of Care" report by Prudential Financial, Inc. (NYSE: PRU). In the U.S., the average cost is $217 per day, or $72,205 per year.
"Many Americans mistakenly believe that Medicare or private health insurance will pay for their long-term care needs," said Andy Mako, senior vice president of long-term care insurance at Newark-based Prudential Financial. "The reality is long-term care risk is substantial, and under current Medicare and Medicaid policy, much of it
is the uninsured private responsibility of individuals."Other average long-term care costs highlighted by the study include:
Semi-private room in a nursing home
N.J.: $254 per day
U.S.: $194 per dayAssisted-living facility
N.J.: $3,538 per month
U.S.: $3,241 per monthHome care from a home-health aide or certified nursing assistant
N.J.: $26 per hour
U.S.: $21 per hour
Category: Elder Law, Estate Planning, Estate and Inheritance Tax, Business Law and Planning, Tax Law and Planning, Probate and Estate Administration, Financial Planning, Miscellaneous Musings
Category: Tax Law and Planning
Most companies in US avoid federal income taxes - Yahoo!: "WASHINGTON - Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress.
The study by the Government Accountability Office, expected to be released Tuesday, said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period. Collectively, the companies reported trillions of dollars in sales, according to GAO's estimate.
'It's shameful that so many corporations make big profits and pay nothing to support our country,' said Sen. Byron Dorgan, D-N.D., who asked for the GAO study with Sen. Carl Levin, D-Mich."
Category: Tax Law and Planning
Category: Miscellaneous Musings
Category: Elder Law,
What approach have you taken when faced with sunset planning for aging parent(s)?I am looking for information related to resources available for helping surviving children understand and execute their aging parent(s) wishes in the sunset years. Specifically, what resources did you turn to and/or what research did you do to determine the ideal solutions related to your aging or terminally ill parent(s) living conditions, medical benefits and options, estate planning, funeral arrangements, etc?
Category: Elder Law
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Category: Financial Planning
Longer lives, less pay — women not saving enough - Yahoo! News: "NEW YORK - Women may not earn as much as men or fly up the corporate ladder as quickly, but They get the last laugh since they live longer. Right? ADVERTISEMENT As it turns out, women probably aren't saving enough to bankroll those extra years in style.They invest more conservatively, start saving later and are more likely to be in and
out of the work force, according to a study released Wednesday by Hewitt Associates, a human resources consulting firm. Suddenly, retirement isn't looking so rosy.Women live an average of 22 years after retirement versus 19 years for men and medical costs are rising, so women will need to save 2 percent more than men every year over 30 years to maintain their standard of living upon retirement, the study found."