What Happens When Your Child Receiving SSI Goes to College?
by Thomas D. Begley, Jr., Esquire, CELA SSI is a monthly income program. For 2018, the maximum federal benefit is $750 per month. In addition, some states have supplements. Unearned income reduces the SSI payment dollar-for-dollar after a $20 per month disregard. Earned income reduces the SSI payment by $1 for every $2 earned after…
THE BENEFITS OF BLOODLINE TRUSTS
by Thomas D. Begley, Jr., CELA What is a Bloodline Trust? A Bloodline Trust is a trust for the benefit of children and/or grandchildren. Rather than leaving the monies outright to children or grandchildren, money is left in a Spendthrift Trust with no withdrawal rights. If the child or grandchild is reliable, they can be…
Ethan Ordog Named to Emerging Leaders Class of 2017
The Burlington County Times and the Burlington County Regional Chamber of Commerce have honored a class of 25 talented leaders in the business world and the community for recognition as the 2017 Emerging Leaders in Burlington County. Begley Law Group’s Ethan Ordog was named to this prestigious list and was on hand for a banquet…
INCOME TAXATION OF CONFIDENTIALITY AGREEMENTS IN PERSONAL INJURY CASES
by Thomas D. Begley, Jr., CELA Frequently, large personal injury settlements contain confidentiality agreements. Unless these agreements are handled properly, they can result in a significant income tax liability to the plaintiff. As a general rule, recoveries in personal injury actions are excluded from federal income tax under §104 of the Internal Revenue Code. However,…