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Understanding Estate Planning

By Thomas D. Begley, Jr. What Is Estate Planning? Estate planning is the process by which an individual defines his or her goals for passing assets to beneficiaries and chooses appropriate tools and strategies for achieving those goals.  The process begins with a careful analysis of one’s situation, objectives, and potential tax liability. Only after…

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TEN REASONS WHY A SPECIAL NEEDS TRUST SHOULD NEVER BE INCLUDED IN A WILL

by Thomas D. Begley, Jr., Esquire, CELA             Many clients who have a family members with disabilities who are receiving means-tested public benefits, such as SSI, Medicaid, Medicaid Waiver Programs, etc., want to establish a Special Needs Trust for the benefit of that family member so that the family member can enjoy the inheritance and at…

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MEDICAID AND THE HOME – PART 2

by Thomas D. Begley, Jr., CELA This is the second part of a two-part series on Medicaid and the home.  The previous article discussed the circumstances under which the home would be a non-countable asset, the five forms of ownership, income and real state taxation, estate recovery, risk factors, and exempt transfers.  This article will…

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MEDICAID AND THE HOME – PART 1

by Thomas D. Begley, Jr., CELA           This is the first part of a two-part series on Medicaid and the home.  The most valuable asset that most Medicaid planning clients have is their home.  They also have very strong emotional attachments to the home.  There are a number of strategies available…

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