» Blog
Call now to make an appointment
phone:   856.235.8501
toll free:   800.533.7227

WHEN YOUR CHILD BECOMES AN “ADULT”

Posted by: Begley Law Group

by Kevin M. Buttery, Esquire Believe it or not, when your child turns 18 he or she is considered a legal adult, and that means that even as their parent you no longer have the ability to control their financial or personal decisions. This makes it difficult to safeguard their physical and financial well-being. Even parents with the most responsible children may have restless nights knowing their child is now exposed to the world without protection. Particularly when your child goes off to college, it becomes important to be able to manage their finances and have access to medical records […]

Read the rest of this entry »

Filed under Estate Planning.

No Comments »

Five Questions with Jack W. Kennedy III, President & CEO of Kennedy Investment Group

Posted by: Begley Law Group

At first glance, the advisors at Kennedy Investment Group (KIG) may appear to be just another financial planning team. But, that’s where the similarities end. With over 125 years of combined experience, Jack W. Kennedy III and his team have forged a long-standing reputation as one of the region’s premier financial planning and wealth management practices. KIG’s success stems from its personal client-centric focus and commitment that’s built on a culture of dedication, care and service. The Begley Law Group is pleased to announce Jack will be co-presenting a financial planning seminar on June 21st. In advance of the event, […]

Read the rest of this entry »

Filed under Estate Planning.

No Comments »

Begley Law Group to Sponsor Children’s Cancer Charity Walk and Run

Posted by: Begley Law Group

Begley Law Group is proud to be a sponsor of the Join Hands 5K and Family Mile coming to Ridgefield Park, NJ on June 25th.  Benefiting the Tomorrows Children’s Fund, this event will help families of children with cancer and serious blood disorders.  For more than 35 years, the Fund has provided a warm, healthy and loving environment for children in treatment and a full scope of services to relieve families’ emotional and financial stress.  To register for the Join Hands 5K and Family Mile, visit https://www.tcfkidwalk.org/.

Read the rest of this entry »

Filed under News.

No Comments »

UNDERSTANDING PARENTING IN THE CONTEXT OF SPECIAL NEEDS PLANNING

Posted by: Begley Law Group

by Thomas D. Begley, Jr., CELA Representing clients in connection with planning for children with disabilities involves a lot more than simply preparing documents. Many lawyers who enter the field of Special Needs Planning have family members who suffer from disabilities and have had first-hand experience with the problem. Good legal advice begins with understanding the problem. For most parents, the concern is what will happen to the child after the parent(s) are gone. While the parents are alive, they will do whatever it takes to achieve the best life possible for their child with disabilities. After they are gone, […]

Read the rest of this entry »

Filed under Uncategorized.
Tags:
No Comments »

Annuities – The Good, the Bad, and the Ugly

Posted by: Begley Law Group

Thomas A. Lane, Jr., ChFC®, CFP® of the Lane Hipple Wealth Management Group “I HATE annuities, and you should too” is a popular marketing campaign utilized by a national investment advisory firm to create uncertainty and fear among annuity owners with the hope they will seek out their firm who will then “rescue” them from these “horrific” products. Is there any basis or truth to such a comment? I can only assume that the owner of that firm probably does hate annuities. That said, he is making a very broad statement inferring that ALL annuities are bad, which, of course, […]

Read the rest of this entry »

Filed under Estate and Trust Administration, Estate Planning.
Tags:
No Comments »

The Benefits of Bloodline Trusts

Posted by: Begley Law Group

By Thomas D. Begley, Jr., Esquire, CELA When Should You Consider a Bloodline Trust? A Bloodline Trust offers protection to your children from: (1) divorce, (2) creditors, (3) death of children and subsequent remarriages of children’s spouses, and (4) squandering the money. Divorce The old saying, “We can pick our friends, but we can’t pick our family,” is particularly applicable in the case of sons- and daughters-in-law. Often, our children choose wonderful, trustworthy spouses with whom we get along very well. But occasionally, they choose partners who cannot be trusted, leaving us concerned for the emotional and financial well-being of […]

Read the rest of this entry »

Filed under Estate and Trust Administration.
Tags: , ,
No Comments »

Thomas D. Begley, Jr. Named 2017 New Jersey Super Lawyer

Posted by: Begley Law Group

Attorney Thomas D. Begley, Jr. of the Begley Law Group was selected to the 2017 New Jersey Super Lawyers list. The New Jersey Super Lawyers list designation is bestowed upon lawyers who have been judged to have extensive professional achievements, exemplary ethical standards, and are held in esteem by their peers. The process in which an attorney is selected as a Super Lawyer includes stringent peer nominations, evaluations, and research by third parties. Only five percent of attorneys are selected. Attorney Begley has been named a Super Lawyer annually since 2008. The continued Super Lawyer designation is a clear indication that […]

Read the rest of this entry »

Filed under News.
Tags:
No Comments »

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 […]

Read the rest of this entry »

Filed under Estate and Trust Administration, Estate Planning, Estate Planning.
Tags: ,
No Comments »

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 […]

Read the rest of this entry »

Filed under News.
Tags:
No Comments »

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 […]

Read the rest of this entry »

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

No Comments »

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 […]

Read the rest of this entry »

Filed under Estate and Trust Administration, Estate Planning.

No Comments »

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 […]

Read the rest of this entry »

Filed under Blog, Personal Injury Consulting, PI Special Reports, PIEstate, PIMedAidApp, PIMedAidPlan, Special Needs Planning, Special Needs Planning, Special Needs Trusts, Special Needs Trusts.
Tags:
No Comments »

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 […]

Read the rest of this entry »

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

No Comments »

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 […]

Read the rest of this entry »

Filed under Blog, Estate Planning, Life Care Planning, Medicaid Applications, Medicaid Planning, Medicaid Planning, Special Needs Planning, Special Needs Trusts.
Tags: ,
No Comments »

What Blended Families Should Know About Estate Planning

Posted by: Begley Law Group

By Thomas D. Begley, Jr. Esquire, CELA CASE STUDY 1: SIMPLE WILLS INADEQUATE TO PROTECT CHILDREN FROM PREVIOUS MARRIAGES Andy (age 77) and Maureen (age 75) are in a long-term second marriage. Andy has two children from a previous marriage, Alexis (age 50) and Kit (age 48). Maureen also has two children from a previous marriage, Lauren (age 45) and Misty (age 44). Andy and Maureen have simple wills that give their entire estate to the surviving spouse with contingent gifts for the four children. After Andy dies, Maureen moves closer to her children and becomes estranged from Alexis and […]

Read the rest of this entry »

Filed under Estate Planning, Estate Planning.
Tags:
No Comments »

The Impact of Fundraisers on Beneficiaries With Disabilities

Posted by: Begley Law Group

By Thomas D. Begley, Jr. Esquire, CELA CRISIS AND KINDNESS In times of crisis, people often show just how caring humanity can be. Major humanitarian relief efforts respond to large-scale natural and unnatural disasters. Strangers donate time and money to individuals injured in tragic accidents. Often, the first instinct when you learn that someone is hurt is to give money. Unfortunately, unbeknownst to the donor, this kind and selfless act can have devastating ramifications for the injured individual and his or her family. If the injured individual or a family member is receiving means-tested government benefits, such as SSI or […]

Read the rest of this entry »

Filed under Blog Special Needs Planning, Personal Injury Consulting, Special Needs Planning, Special Needs Planning.
Tags: ,
No Comments »

Lien Resolution In Personal Injury Cases

Posted by: Begley Law Group

By Thomas D. Begley, Jr. Esquire, CELA When a personal injury settlement is being finalized, consideration should be given to resolving a number of liens. It is good practice to obtain information on the existence and amount of these liens early in the process, because this information may be helpful in settlement negotiations. The types of liens that often arise in personal injury cases include the following: Medicaid Medicare Medicare Advantage/Medicare Part D ERISA Veterans Administration TRICARE State Worker’s Compensation Federal Employees Compensation Act (FECA) Hospital Federal Employees Health Benefit Act (FEHBA) Federal Medical Care Recovery Act (FMCRA) Welfare Liens […]

Read the rest of this entry »

Filed under Blog Special Needs Planning, Personal Injury Consulting, Special Needs Planning, Special Needs Planning.
Tags: ,
No Comments »

Third Party Special Needs Trusts

Posted by: Begley Law Group

By Thomas D. Begley, Jr., CELA A Third Party Special Needs Trust is usually used in a Medicaid context not for the benefit of the grantor of the trust, but for the beneficiary. The grantor of the trust is typically a parent, but could be grandparent, sibling, other relative or friend. The grantor uses the grantor’s assets to fund the trust. The assets of the beneficiary cannot be used to fund a Third Party Special Needs Trust. In order for the trust to be a Special Needs Trust, the beneficiary must be disabled. Disability is usually determined ,y the fact that […]

Read the rest of this entry »

Filed under Blog, Estate Planning, Life Care Planning, Medicaid Planning, Personal Injury Consulting, Special Needs Planning, Uncategorized.
Tags:
No Comments »

DeCambre Reversed

Posted by: Begley Law Group

By Thomas D. Begley, Jr., CELA Section 8 of the Federal Housing Act of 1937 provides a rental assistance program for low-income families and individuals. HUD pays rental subsidies so eligible families can afford decent, safe and sanitary housing. The programs are generally administered by Public Housing Agencies (PHAs). Generally, the family pays 30% of its adjusted monthly income for rent. Household income must be within the applicable limit established by HUD. The limits are based on family size and locality. Family members must be U.S. citizens or eligible aliens. There are income limits. Income includes Social Security and Disability […]

Read the rest of this entry »

Filed under Special Needs Planning, Special Needs Planning, Special Needs Trusts, Special Needs Trusts, Uncategorized.
Tags:
No Comments »

10 THINGS YOU NEED TO KNOW ABOUT ABLE ACCOUNTS

Posted by: Begley Law Group

by Thomas D. Begley, Jr., Esquire, CELA On December 16, 2014, Congress enacted and sent to the President for signature an Act known as Achieving a Better Life Experience (ABLE) Act of 2014.[1] This Act is to provide a tax-favored account, similar to a 529 Plan, for individuals with disabilities to pay for qualified expenses. The effective date of this legislation was December 31, 2014. Highlights of this Act are as follows: State Established or Contracted. Each state is authorized to establish and operate an ABLE program. This must be done by each state before these accounts can be opened […]

Read the rest of this entry »

Filed under Blog Special Needs Planning, Estate Planning, Life Care Planning, Medicaid Planning, Medicaid Planning.
Tags: , , ,
No Comments »

ADVANTAGES AND DISADVANTAGES OF ABLE ACCOUNTS

Posted by: Begley Law Group

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 things must happen: (1) the federal government must adopt regulations governing the accounts, and (2) state must either create their own ABLE accounts or contract with other states to do so. It is likely that these accounts will operate in a manner similar to existing […]

Read the rest of this entry »

Filed under Blog, Blog Special Needs Planning, Estate Planning, Estate Planning, Long Term Care, Medicaid Applications, Medicaid Planning, Special Needs Planning.
Tags: , , , ,
No Comments »

Using Self-Settled Special Needs Trusts in Medicaid Planning

Posted by: Begley Law Group

By Thomas D. Begley, Jr., CELA Trusts for disabled individuals who have not reached age 65 and are funded with assets of the disabled person are authorized under OBRA-93.(1)  The trust is for the benefit of disabled persons.  The person much be under 65 at the inception of the trust.  While the trust must be established and funded prior to the beneficiary attaining the age of 65, it may continue after 65.  If the trust is funded with a structured settlement prior to the beneficiary attaining the age of 65, the trust remains viable even though payments from the annuity […]

Read the rest of this entry »

Filed under Special Needs Planning, Special Needs Planning, Special Needs Trusts, Special Needs Trusts, Uncategorized.

No Comments »

Disability Annuity Special Needs Trusts

Posted by: Begley Law Group

By Thomas D. Begley, Jr., CELA One of the trusts used in Medicaid Planning is a Disability Annuity Special Needs Trust (“DASNT”). A previous Straight Word article discussed a Disability Annuity Trust (“DAT”). These trusts are designed so that an individual can establish a trust and transfer assets to the trust for the benefit of a disabled child of any age or a disabled individual under age 65 without incurring a Medicaid transfer of asset penalty. The problem with that trust is that the assets in the trust are considered available for public benefit purposes. Therefore, if  a DAT were […]

Read the rest of this entry »

Filed under Blog Special Needs Planning, Special Needs Planning, Special Needs Planning, Special Needs Trusts, Special Needs Trusts, Uncategorized.
Tags: ,
No Comments »

ALTERNATIVES TO A THIRD PARTY SPECIAL NEEDS TRUST

Posted by: Begley Law Group

by Thomas D. Begley, Jr., CELA There are a number of alternatives to a Third Party Special Needs Trusts. These include the following: Disinherit a Child. The problem with this strategy is that one cannot be certain that public benefits, as we know them today, will continue forever. Many public benefits have been cut back in recent years and there is no guarantee that current benefits will not be reduced as well. Many parents who have severely disabled children, whose needs are covered by public benefits, will consider disinheriting the children, but they should be made aware that current public […]

Read the rest of this entry »

Filed under Life Care Planning, Special Needs Planning, Special Needs Trusts.

No Comments »

ABLE ACCOUNT, THIRD PARTY SPECIAL NEEDS TRUST AND POOLED TRUST: COMPARE

Posted by: Begley Law Group

by Thomas D. Begley, Jr., CELA Below is a chart comparing an ABLE Account with a Third-Party Special Needs Trust.     ABLE ACCOUNT THIRD PARTY SPECIAL NEEDS TRUST OR POOLED TRUST Onset of Disability Qualifying disability exists prior  to age 26   No requirement Age of Beneficiary   No requirement No requirement Who May Establish   Beneficiary, parent, guardian, agent Anyone except beneficiary Number of Accounts   One per beneficiary Unlimited Fees   Financial institution fees Attorney and trustee fees Contribution Limits $14,000 per year (federal gift tax limit); total capped at state limit for 529 college savings accounts; SSI payments suspended when assets total $100K   Unlimited Investment Options Investment strategies may be changed […]

Read the rest of this entry »

Filed under Estate Planning, Life Care Planning, Medicaid Planning, Special Needs Planning, Special Needs Trusts.
Tags:
No Comments »

ABLE ACCOUNTS ARE COMING TO NEW JERSEY

Posted by: Begley Law Group

by Thomas D. Begley, Jr., CELA New Jersey has passed the Achieving a Better Life Experience ACT (“ABLE”). While the Act has passed, it will take some time to implement. Many commentators believe that by the end of the year accounts will be authorized. Under the ABLE Act, people with disabilities and their families may set up special savings accounts similar to 529 Plans to be used for disability-related expenses. Earnings on these accounts are non-taxable. Generally, if the fund does not exceed $100,000, it will not be counted for Supplemental Security Income (“SSI”) purposes. If the fund exceeds $100,000 […]

Read the rest of this entry »

Filed under Estate Planning, Estate Planning, Medicaid Planning, Special Needs Planning.
Tags: , ,
No Comments »

SEVEN PLANNING CONSIDERATIONS IN THE CONTEXT OF SELF-SETTLED SPECIAL NEEDS TRUST

Posted by: Begley Law Group

by Thomas D. Begley, Jr., CELA Availability. Assets in a Self-Settled Special Needs Trust (“SSSNT”) are not considered available for Supplemental Security Income (“SSI”) or Medicaid eligibility purposes. The reason is that the trustee is given sole discretion with respect to distributions from the trust. The beneficiary cannot control distribution or revoke the trust. Special needs language should be included for guidance to the trustee with respect to distributions. Transfer of asset penalty. There is no transfer of asset penalty for SSI and Medicaid, because there is a statutory exemption under 42 U.S.C. § 1392b and 42 U.S.C. § 1396p(d)(4)(A). Payback. A […]

Read the rest of this entry »

Filed under Special Needs Trusts, Special Needs Trusts.

No Comments »

WHAT IS A SELF-SETTLED SPECIAL NEEDS TRUST?

Posted by: Begley Law Group

by Thomas D. Begley, Jr., CELA Trusts for disabled individuals who have not reached age 65 and are funded with assets of the disabled person are authorized under OBRA-93.[1] The trust is for the benefit of disabled persons. The person must be under 65 at the inception of the trust. While the trust must be established and funded prior to the beneficiary attaining the age of 65, it may continue after 65. If the trust is funded with a structured settlement prior to the beneficiary attaining the age of 65, the trust remains viable even though payments from the annuity […]

Read the rest of this entry »

Filed under Uncategorized.
Tags:
No Comments »

WHAT IS A THIRD PARTY SPECIAL NEEDS TRUST?

Posted by: Begley Law Group

by Thomas D. Begley, Jr., CELA A Third Party Special Needs Trust is usually used in a Medicaid context not for the benefit of the grantor of the trust, but for the beneficiary. The grantor of the trust is typically a parent, but could be grandparent, sibling, other relative or friend. The grantor uses the grantor’s assets to fund the trust. The assets of the beneficiary cannot be used to fund a Third Party Special Needs Trust. In order for the trust to be a Special Needs Trust, the beneficiary must be disabled. Disability is usually determined by the fact […]

Read the rest of this entry »

Filed under Estate and Trust Administration, Estate Planning, Special Needs Trusts.
Tags:
No Comments »

USING SELF-SETTLED SPECIAL NEEDS TRUSTS TO PROTECT PUBLIC BENEFITS

Posted by: Begley Law Group

Many public benefits available to persons with disabilities, such as Supplemental Security Income (SSI) and Medicaid, place limits on income and certain types of assets. Exceeding such limits can lead individuals to lose some or all of their benefits. Individuals receiving SSI are limited to $2,000 of assets. For many individuals, their Medicaid is linked to their SSI. Today there are many Medicaid Waiver Programs. In many states the asset limit for these waiver programs is also $2,000, but this varies from program-to-program and from state-to-state. Assets held in ABLE accounts do not affect SSI until the ABLE account reaches […]

Read the rest of this entry »

Filed under Blog Special Needs Planning, Estate Planning, Special Needs Planning, Special Needs Trusts.
Tags: ,
No Comments »

We provide elder law services in the following areas:
New Jersey and Pennsylvania Medicaid Planning, Medicaid Applications, Asset Protection, Special Needs Trust, Estate and Trust administration and Estate Planning.
CONNECT WITH US