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THE INTERPLAY BETWEEN SPECIAL NEEDS TRUSTS AND ABLE ACCOUNTS IN PERSONAL INJURY CASES

by Thomas D. Begley, Jr., Esquire, CELA   Personal injury plaintiffs who suffer from disabilities and are required to establish Self-Settled Special Needs Trusts in order to maintain their public benefits should consider establishing an ABLE account at the same time. While most people consider the tax-free income of an ABLE account to be a…

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VETERANS ADMINISTRATION AID AND ATTENDANCE BENEFITS

INTRODUCTION “America’s veterans deserve the best health care and compensation system we can provide.” (Anthony Principi, Secretary of Veterans Affairs, News Release, February 3, 2003). While there are several different commonly known types of VA benefits available to veterans or widow(er)s of veterans, most people are unaware of the benefits available to senior citizens who…

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WHAT IS AN ABLE ACCOUNT AND HOW CAN IT HELP PROTECT YOUR SSI CHECK?

  An ABLE account is a new device available to the disability community that allows a disabled individual to have a limited bank account without risking eligibility for their means-tested public benefits. ABLE accounts can receive $15,000 per year from all sources, and are capped at the maximum account size of a 529 College Savings…

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Vacation Area Homes: Tax and Management Issues

By: Thomas D. Begley, Jr., Esquire, CELA CASE STUDY 1: VACATION HOME—NO ESTATE PLAN  Harry and Sally own a vacation home on a barrier island. They purchased the home many years ago for $50,000, and it is now worth $1 million. Harry and Sally have two children and five grandchildren. The children visit the vacation…

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