STRUCTURED SETTLEMENT V. LUMP SUM
by Thomas D. Begley, Jr., Esquire, CELA It is important to decide in each individual case how much of a personal injury recovery should be structured and how much should be lump sum. The instinct of many personal injury attorneys is to structure as much as possible to avoid having a plaintiff squander the funds….
ADVANTAGES AND DISADVANTAGES OF STRUCTURED SETTLEMENTS
by Thomas D. Begley, Jr., Esquire, CELA Advantages of Structured Settlements There are a number of potential benefits to an injured plaintiff in utilizing a structured settlement: Fiscal Restraint. The structured settlement prevents the injured plaintiff from squandering the settlement. Many clients receiving personal injury settlements have never had money, have never learned financial discipline,…
Planning for Long-Term Care
By Thomas D. Begley Jr. WHAT SHOULD YOU KNOW ABOUT LONG-TERM CARE? Long-term care is an area of growing concern to older Americans and their families. Approximately 70% of individuals age 65 or older eventually require some form of long-term care. Whether that consists of home healthcare, assisted living or nursing home care, the costs…
DISTRIBUTIONS FROM SPECIAL NEEDS TRUSTS RELATED TO VACATIONS
[This article was originally printed in the Straight Word, a publication of the Burlington County Bar Association.] by Thomas D. Begley, Jr., CELA Individuals with disabilities are often able to travel and take vacations. A special needs trust can pay for vacations, but there are different rules that apply to third-party special needs trusts as…