Posted by: Thomas D. Begley, Jr.
The Traumatic Brain Injury Trust Fund is different from the Traumatic Brain Injury Medicaid Waiver Program. The Fund is administered by the New Jersey Department of Human Services, Division of Disability Services. The Fund pays, as a last resort, for the cost of post-acute care, services, and supports to New Jersey residents who have survived neurotrauma with a traumatic brain injury. There is a TBI Fund Review Committee that reviews requests for services and supports. Expenditure Caps and Limitations Services provided to an individual will not exceed a lifetime total of $100,000 nor [...]
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Filed under Personal Injury Consulting.
Tags: Personal Injury, Personal Injury Consulting
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Posted by: Begley Law Group
The previous discussions went over the importance of a Personal Injury Settlement Consultant and other benefits. This blog highlights additional factors to be considered, including: • Medical Coverage. Medical coverage is often a big issue for plaintiffs in personal injury cases, because they have preexisting conditions. A Personal Injury Settlement Consultant, such as Begley Law Group, may be helpful in navigating this system. • Estate Taxes. When a significant amount of money is recovered in the settlement, federal and state estate and inheritance taxes need to be addressed. Currently, there is a federal estate tax exemption up to $5 million, [...]
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Filed under Personal Injury Consulting.
Tags: elder law new jersey, new jersey elder law, new jersey elder law attorney, new jersey estate planning, new jersey estate planning attorney, new jersey estate planning lawyer, nj elder, nj estate planning, nj estate planning attorney
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Posted by: Begley Law Group
The previous blog discussed the importance of a Personal Injury Settlement Consultant. This blog continues that discussion and covers additional factors to be considered. This includes: • Intestacy. An issue in many cases is intestacy. In many states, if the injured plaintiff is a minor or disabled person, a special needs or support trust must provide that absent the exercise of a power of appointment in a will, the proceeds remaining after the Medicaid payback and the payment of other expenses must be passed under the law of intestacy. If a pooled trust is established, then, depending on state law, [...]
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Filed under Personal Injury Consulting.
Tags: elder law new jersey, new jersey elder law, new jersey elder law attorney, new jersey estate planning, new jersey estate planning attorney, new jersey estate planning lawyer, nj elder, nj estate planning, nj estate planning attorney
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Posted by: Begley Law Group
There are many factors that must be considered in settling a personal injury case that go beyond the life care plan. • Hopes and Dreams. The person with disabilities and his or her family may have hopes and dreams beyond the Life Care Plan. Typically, these involve ownership of a home, a vehicle, a vacation, and often require the repayment of debt. Monies should also be set aside in an emergency fund for unanticipated future expenses. It is important that the disability attorney help the injured party and the family to identify these hopes and dreams, and attempt to assist [...]
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Filed under Personal Injury Consulting.
Tags: elder law new jersey, new jersey elder law, new jersey elder law attorney, new jersey estate planning, new jersey estate planning attorney, new jersey estate planning lawyer, nj elder, nj estate planning, nj estate planning attorney
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Posted by: Begley Law Group
If a personal injury lawyer has a client who needs a Special Needs Trust and the lawyer fails to advise the client appropriately and take steps to see that such a trust is established, the personal injury lawyer may have liability to the client under a malpractice claim. Self-Settled Special Needs Trusts were authorized by Congress in 1993. If the trust is properly established and administered, the injured plaintiff can continue to remain eligible for public benefits, such as SSI and Medicaid, and benefit from the use of the personal injury settlement. If the trust is not established, then the [...]
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Filed under Personal Injury Consulting, Special Needs Trusts.
Tags: elder law new jersey, new jersey elder law, new jersey elder law attorney, new jersey estate planning, new jersey estate planning attorney, new jersey estate planning lawyer, nj elder, nj estate planning, nj estate planning attorney
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Posted by: Begley Law Group
The Medicare Secondary Payer Act (MSPA) was passed in 1980. The Act provides that Medicare is a secondary payer and makes a conditional payment if payment has not been made or cannot be expected to be made promptly by a group health plan, Workers’ Compensation (WC) plan, liability insurance, or no-fault insurance. Conditional payments are made by Medicare subject to repayment when a primary plan makes payment. The MSPA covers past payments and future payments. Medicare has been asserting its right to reimbursement for past payments for many years, and is becoming increasingly more sophisticated in this regard. With respect [...]
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Posted by: Begley Law Group
There are two situations in which Settlement Preservation Trusts are usually advisable. [1] Minor or Incapacitated Person In most states, if a minor receives a settlement, it must be held by the court until the minor attains majority. Upon the child’s attaining age 18, he can present himself at the court and say, “Wish me a Happy Birthday, and please give me my check for $6 million.” Alternatively, the court can be asked to establish a Settlement Preservation Trust to hold the assets for the minor. Most individuals do not have sufficient maturity to handle significant financial assets at age [...]
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Filed under Personal Injury Consulting.
Tags: elder law new jersey, new jersey elder law, new jersey elder law attorney, new jersey estate planning, new jersey estate planning attorney, new jersey estate planning lawyer, nj elder, nj estate planning, nj estate planning attorney
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Posted by: Begley Law Group
MECHANICS OF THE LOAN Since a lawsuit itself is essentially the collateral to secure the finance company’s advances, the lending company will obtain information from the personal injury attorney concerning the case. They will follow these steps to offer the monies: Evaluation. The pre-settlement lending company evaluates the case and determines the likelihood of success. If the company is satisfied that there is a strong likelihood of a favorable settlement or verdict, then a cash advance will be approved. Agreement. The pre-settlement lending company will expect the plaintiff and the plaintiff’s attorney to sign an agreement. The agreement will require [...]
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Filed under Personal Injury Consulting, Special Reports.
Tags: new jersey elder law, new jersey elder law attorney, new jersey estate planning, new jersey estate planning attorney, new jersey estate planning lawyer, New Jersey Special Needs attorney, New Jersey Special Needs Lawyer, New Jersey Special Needs planning, new jersey veterans law, nj elder, nj estate planning, nj estate planning attorney
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Posted by: Begley Law Group
There is an ever-growing cottage industry of investors ready, willing and able to make the equivalent of a loan to an individual who is the plaintiff in a personal injury case. These transactions, also known as pre-settlement lending, are a growing trend for those in need. In order to avoid usury statutes, these transactions are characterized not as loans but as non-recourse cash advances. If the plaintiff loses the lawsuit, then no repayment is due. If the plaintiff receives less than the outstanding balance of the loan, then only the amount that the plaintiff receives need be repaid. Because of [...]
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Filed under Personal Injury Consulting, Special Reports.
Tags: new jersey elder law, new jersey elder law attorney, new jersey estate planning, new jersey estate planning attorney, new jersey estate planning lawyer, New Jersey Special Needs attorney, New Jersey Special Needs Lawyer, New Jersey Special Needs planning, new jersey veterans law, nj elder, nj estate planning, nj estate planning attorney
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Posted by: Thomas D. Begley, Jr.
On June 25, 2010, the Social Security Administration (SSA) issued clarification to the POMS relating to Early Termination Provisions and Trusts.[1] It should be noted that these provisions are not effective until October 1, 2010. Until that date, this POMS is to be considered informational only. The new POMS clarifies what is an early termination provision. It states, “An early termination provision or clause would allow a trust to terminate before the death of the beneficiary. Commonly, such provisions or clauses provide for a termination of the trust when, for example, the beneficiary is no longer disabled or otherwise becomes [...]
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Filed under E-Lerts, Personal Injury Consulting, Special Needs Trusts, Special Needs Trusts.
Tags: Personal Injury Consulting, Special Needs Trusts
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