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Joellen C. Meckley Elected to NJ NAELA

Joellen C. Meckley, Partner at Begley Law Group was recently nominated and elected to serve a 2-year term on the Board of Directors for the New Jersey NAELA. The New Jersey Chapter of the National Academy of Elder Law Attorneys advocates on behalf of and provides legal services for older adults, people with disabilities, and…

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INCOME TAXATION IN PERSONAL INJURY CASES

by Thomas D. Begley, Jr., Esquire, CELA   Generally, personal injury damages are excludable from taxation.[1] The Code deals with compensation for injuries and sickness and states, “[i]n general, gross income does not include the amount of any damages (other than punitive damages) received (whether by suit or agreement and whether as lump sums or…

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TEN TOP MEDICAID PLANNING STRATEGIES

by Thomas D. Begley, Jr., Esquire, CELA Medicaid Planning strategies basically fall into two categories:  spend down and transfer of assets.  The ten top strategies include the following:   There are several options with respect to the home.  The home could be transferred to the community spouse without a transfer of asset penalty.  However, if…

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MEDICAID PLANNING IN NEW JERSEY: LEVELS OF LONG-TERM CARE, COST AND ELIGIBILITY

by Thomas D. Begley, Jr., Esquire, CELA There are four frequently used levels of care in New Jersey.  The cost of adult day care averages $70 to $120 per day, home care averages $28 per hour from an agency, assisted living averages $6,000 to $10,000 per month, and nursing homes cost $10,000 to $14,000 per…

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