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SPECIAL NEEDS TRUSTS AND MEDICARE SET-ASIDE ARRANGEMENTS

by Thomas D. Begley, Jr., Esquire, CELA Generally, Medicare Set-Aside Arrangement (MSA) funds are deposited in a custodial account with a professional trustee or given to the client to self-administer. For cases less than $100,000, giving the funds to the client to self-administer makes sense. CMS has issued a letter of instructions to be delivered…

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PROTECTING THE HOME FROM THE COST OF LONG-TERM CARE

by Thomas D. Begley, Jr., CELA Seventy percent 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 $10,000 – $12,000 per month for nursing home care. Before becoming eligible…

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TOP TEN MISTAKES IN DRAFTING SPECIAL NEEDS TRUSTS

[This article was originally printed in the Straight Word, a publication of the Burlington County Bar Association.] by Thomas D. Begley, Jr., CELA There are a number of mistakes that scriveners make in drafting special needs trusts. This article will discuss those that frequently occur. Including a Payback Provision in a Third-Party Special Needs Trust….

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20 THINGS YOU NEED TO KNOW ABOUT ABLE ACCOUNTS

by Thomas D. Begley, Jr., Esquire, CELA On December 16, 2014, Congress enacted and the President has signed 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. Highlights of…

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