Planning for Long-Term Care
By Thomas D. Begley Jr. WHAT SHOULD YOU KNOW ABOUT LONG-TERM CARE? Long-term care is an area of growing concern to older Americans and their families. Approximately 70% of individuals age 65 or older eventually require some form of long-term care. Whether that consists of home healthcare, assisted living or nursing home care, the costs…
DISTRIBUTIONS FROM SPECIAL NEEDS TRUSTS RELATED TO VACATIONS
[This article was originally printed in the Straight Word, a publication of the Burlington County Bar Association.] by Thomas D. Begley, Jr., CELA Individuals with disabilities are often able to travel and take vacations. A special needs trust can pay for vacations, but there are different rules that apply to third-party special needs trusts as…
THE ALTERNATIVE TO A SPECIAL NEEDS TRUST IN PERSONAL INJURY CASES
1. Is the Trust Necessary? Are public benefits, such as SSI and Medicaid, important to the client? The attorney must consider the restrictions on distributions. There are three important factors that must e considered before determining to use a self-settled special needs trust: Sole Benefit of Rule. Distributions from self-settled special needs trusts must meet…
USE OF CREDIT CARDS AND GIFT CARDS IN ADMINISTERING A SPECIAL NEEDS TRUST
[This article was originally printed in the Straight Word, a publication of the Burlington County Bar Association.] In administering a special needs trust, it is crucial that the trustee not advance cash to the beneficiary. Historically, beneficiaries have sent their bills to the trustee for payment. An easier way to accomplish this objective is to…