SPECIAL ASSETS
by Thomas D. Begley, Jr., Esquire, CELA THE VEHICLE The special needs beneficiaries and their families need to buy a vehicle, very often a handicap van. The issue is: who should own the vehicle? Trust Purchases Vehicle Titled in Name of the Trust The advantage of this arrangement is that it gives the…
DISTRIBUTIONS FOR ENTERTAINMENT, MEDICAL EXPENSES, CREDIT CARDS, DEBIT CARDS, AND GIFT CARDS
by Thomas D. Begley, Jr., Esquire, CELA DISTRIBUTIONS RELATED TO ENTERTAINMENT Care must be taken when distributions are made for recreational activities, such as vacations. Some entertainment activities involve shelter. Taking a vacation usually involves shelter. SSA defines income as something one can use to get shelter. The POMS gives an example of an…
ANALYSIS OF SPECIAL NEEDS TRUSTS
by Thomas D. Begley, Jr., Esquire, CELA Purpose The purpose of a Special Needs Trust is to enrich the life of the disabled beneficiary while maintaining the beneficiary’s public benefits, especially SSI and Medicaid. POMS Considerations When Drafting a Special Needs Trust Drafting a special needs trust requires designing it in a manner…
ANALYSIS OF A POOLED TRUST
by Thomas D. Begley, Jr., Esquire, CELA Purpose The purpose of a Pooled Trust is to ensure that the trust assets are used to enrich the life of the disabled person while maintaining vital public benefits. Trust Design A Pooled Trust must be established and managed by a non-profit organization. They are authorized…