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Understanding Estate Planning – Begley Report

By Thomas D. Begley, Jr. WHAT IS ESTATE PLANNING? Estate planning is the process by which an individual defines his or her goals for passing assets to beneficiaries and chooses appropriate tools and strategies for achieving those goals.  The process begins with a careful analysis of one’s situation, objectives, and potential tax liability. Only after…

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Providing For Your Grandchildren – Special Report

CASE STUDY:  GRANDPARENTS USE BOTH ESTATE PLANNING AND LIFETIME GIFTS TO ASSIST GRANDCHILDREN Harry and Sally have two grown children and four grandchildren who are all under age 18.  Harry and Sally are close to their children, Bill and Irene.  The grandchildren are a source of joy and pride and occupy a special place in…

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Protecting The Home: Using Trusts To Protect Your Home From The Costs Of Long-Term Care – Begley Report

by Thomas D. Begley, Jr., Esquire, CELA INTRODUCTION Studies show that 43% of Americans will spend some time in a nursing home.  Seventy percent 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 $28 – $35 per hour or more…

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USING SELF-SETTLED SPECIAL NEEDS TRUSTS TO PROTECT PUBLIC BENEFITS – Begley Report

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…

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