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TAXATION OF LITIGATION CLAIMS

by Thomas D. Begley, Jr., Esquire, CELA In resolving litigation, the taxation of the proceeds should always be considered.  There are often income, estate and/or gift taxes that apply.  From a tax standpoint it makes no difference whether the recovery is via a settlement or judgment.  It is often important how the complaint is worded,…

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MEDICAID & AFFORDABLE CARE ACT (ACA) ELIGIBILITY FOR NON-CITIZEN PERSONAL INJURY PLAINTIFFS

by Thomas D. Begley, Jr., Esquire, CELA and Emily Schurr Medicaid General Rule             As a general rule, Medicaid provides medical insurance for individuals.  To be eligible for most programs, the applicant must be a resident of New Jersey, be a U.S. citizen or qualified alien, and meet specific standards for financial income and resources…

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COUNSELING SESSION WITH PLAINTIFFS AND FAMILIES AFTER A PERSONAL INJURY RECOVERY

by Thomas D. Begley, Jr., Esquire, CELA A counseling session should be held with all of the important players to identify immediate cash needs, develop a budget, design the plan of distribution, and begin the process of managing expectations. One of the most significant discussions will be how long the trust is expected to last….

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TYPICAL PROBLEMS WITH SPECIAL NEEDS AND SETTLEMENT PROTECTION TRUSTS

by Thomas D. Begley, Jr., Esquire, CELA             Frequently the proceeds of personal injury recoveries are placed in a Special Needs Trust (SNT) when the plaintiff is receiving means-tested public benefits or a Settlement Protection Trust (SPT) when the plaintiff is a minor, an incapacitated person or wants help in investing and managing money over…

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