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PROTECTING THE HOME: USING TRUSTS TO PROTECT YOUR HOME FROM THE COSTS OF LONG-TERM CARE

by Thomas D. Begley, Jr., Esquire, CELA Studies show that 70% of Americans will require some form of long-term care be it nursing home, assisted living or home care. The cost of this care can range from $20 per hour or more for home care to $12,000 per month for nursing home care. If a…

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ADVANTAGES AND DISADVANTAGES OF ABLE ACCOUNTS

by Thomas D. Begley, Jr., Esquire, CELA Congress enacted and the President has signed legislation known as the Achieving a Better Life Experience (ABLE) Act of 2014.387 The Act is modeled on 529 Plans and will provide tax-favored accounts for individuals with disabilities to pay for qualified expenses. Before these accounts can be implemented, two…

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Medicaid Applications: Why It Makes Sense to Use a Lawyer

By: Thomas D. Begley, Jr., Esquire, CELA INTRODUCTION Medicaid applications are complex and extremely labor-intensive. They require an enormous amount of time to collect and verify all of the necessary data that must accompany the application. If an application is delayed for even one month because there is incomplete or incorrect information, the applicant has…

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MILLER TRUSTS

by Thomas D. Begley, Jr., Esquire, CELA For purposes of Medicaid long-term care services, New Jersey has always been an income cap state. That means that an individual’s income must not exceed 300% of the Federal Benefit Rate (FBR). Beginning January 1, 2017 that means that an individual’s monthly income cannot exceed $2,205. Historically, individuals…

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