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CORPORATE TRUSTEES HATE THIS! ONE SIMPLE TRICK TO SAFEGUARD YOUR TRUST

Posted by: Begley Law Group

by Kevin M. Buttery, Esquire When planning your estate, it is often advisable to utilize a trust to effect one or more of your goals. The trustee of such a trust can, and in certain circumstances should, be a corporate entity, also known as a corporate fiduciary. However, you may not want to relinquish control of your assets to somebody outside of the family. To overcome this uncomfortable proposition, your attorney may suggest that you appoint a “Trust Protector” for your trust. While a Trust Protector may sound like a super hero wielding unending power, the role is really meant […]

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Filed under Estate and Trust Administration, Estate Planning, Estate Planning.
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ETHAN J. ORDOG RECOGNIZED BY SUPER LAWYERS

Posted by: Begley Law Group

Each year Super Lawyers creates a credible, comprehensive and diverse listing of outstanding attorneys. This year Ethan J. Ordog has been selected as a Super Lawyers Rising Star. Each candidate is evaluated on 12 indicators of peer recognition and professional achievement. Ethan joined Begley Law Group in February of 2009 and became a partner in January of 2014. Ethan concentrates his practice in Estate & Trust Litigation, Estate & Trust administration and Guardianship. Ethan is licensed to practice law in New Jersey and the U.S. District Court for the District of New Jersey. He is a member of the New […]

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Depletion Management

Posted by: Begley Law Group

By Thomas D. Begley, Jr., CELA When a personal injury victim settles a case and the plaintiff is receiving certain public benefits such as SSL Medicaid, Medicaid Waiver programs, SNAP (Food Stamps), Section 8 Housing, or any other means-tested program, a Special Needs Trust is required. To qualify for a Special Needs Trust, the plaintiff must be disabled. How Lonn Should the Trust Last? Once the trust is established, the next issue is. How long should the trust last? The answer to that question depends, in part on how large the settlement is. If the settlement is small, the trust […]

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Filed under Estate and Trust Administration, Special Needs Planning, Special Needs Planning, Special Needs Trusts, Special Needs Trusts, Uncategorized.

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10 REASONS TO SELECT A CORPORATE TRUSTEE

Posted by: Begley Law Group

by Thomas D. Begley, Jr., CELA Attorneys prepare many types of trusts. The trusts are for multiple purposes. They include special needs trusts, standard support trusts, discretionary support trusts, disclaimer trusts, bloodline trusts, incentive-based trusts, retirement plan trusts, and trusts for Medicaid planning purposes. Occasionally, it is appropriate to have a family member serve as trustee. However, in most cases it is better to retain the services of a professional trustee. Ten reasons to employ professional trustees include the following: Target on Individual Trustee’s Back. If something goes wrong, such as the trust (1) makes improper distributions, (2) pays unnecessary […]

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Filed under Estate and Trust Administration, Estate Planning.

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Making Special Needs Trusts Last

Posted by: Begley Law Group

By Thomas D. Begley, Jr., CELA When a personal injury victim receives a settlement, one of the biggest post-settlement problems is making the money last. If the plaintiff is receiving means-tested public benefits, the monies must be put in a Special Needs Trust. How long do the beneficiary and other family members need that money to last? When the size of the settlement is significant, best practices would dictate that a three-step process be followed: Counseling Session. Step 1 is a counseling session with the person with disabilities, the family members, if appropriate, the trustee, the attorney drafting the Special […]

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Filed under Blog, Personal Injury Consulting, PI Special Reports, PIEstate, PIMedAidApp, PIMedAidPlan, Special Needs Planning, Special Needs Planning, Special Needs Trusts, Special Needs Trusts.
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The Future of the Practice of Law

Posted by: Begley Law Group

By Thomas D. Begley, Jr., CELA A Virginia State Bar Association appointed a study committee on the future of the practice of law. Perhaps New Jersey should do the same. A draft copy of the final report is interesting reading. The committee identified a number of external forces affecting the practice of law: Advances in technology; Increasing competition from non-lawyers; Generational pressures as Baby Boomers begin to transition to Millennials; Client dissatisfaction with the billable hour; Increased in-sourcing of legal services by corporate clients; and Accelerated globalization of legal services. Technology Serious efforts are now underway to develop artificial intelligence […]

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Filed under Blog, Estate and Trust Administration, Estate Planning, Long Term Care, Personal Injury Consulting.

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MEDICAID AND MEDICARE 2017 COLA NUMBERS

Posted by: Begley Law Group

by Thomas D. Begley, Jr., Esquire, CELA CMS has released the Medicare and Medicaid numbers for 2017. They are as follows: Medicaid Income Cap[1] $2,205 Maximum Community Spouse Resource Allowance (CSRA)[2] $120,900 Minimum CSRA[3] $24,180 Maximum Minimum Monthly Maintenance Needs Allowance (MMMNA)[4] $3,022.50 MMMNA (July 1, 2016 until June 30, 2017)[5] $2,002.50 MMMNA (July 1, 2017 until June 30, 2018)[6] $2,030.00 Excess Shelter Allowance (July 1, 2016 until June 30, 2017)[7] $600.75 Excess Shelter Allowance (July 1, 2017 until June 30, 2018)[8] $609.00 Maximum Resource Limit (Individual)[9] $2,000 Minimum and Maximum Cap on Equity in the Home[10] $560,000 –$840,000 Medicare […]

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Filed under Blog, Estate Planning, Life Care Planning, Medicaid Applications, Medicaid Planning, Medicaid Planning, Special Needs Planning, Special Needs Trusts.
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New Jersey and Pennsylvania Medicaid Planning, Medicaid Applications, Asset Protection, Special Needs Trust, Estate and Trust administration and Estate Planning.
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