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ARE LEGAL FEES IN PERSONAL INJURY RECOVERIES TAX DEDUCTIBLE TO THE PLAINTIFF?

by Thomas D. Begley, Jr., Esquire, CELA [Article originally published in The Barrister, Jan 2020] As a general rule, personal legal fees are not tax deductible, but legal fees in connection with business are deductible.  So, if a client gets divorced, this is personal and the legal fees are non-deductible.  If legal fees are paid in connection…

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USING TRUST PROTECTORS FOR SPECIAL NEEDS TRUSTS

by Thomas D. Begley, Jr., Esquire, CELA [Article originally published in The Barrister] When drafting a Special Needs Trust (SNT) it is always better to utilize the services of a Professional Trustee rather than a family member.  However, the individuals establishing the trust are usually not comfortable with a Professional Trustee, because they are not familiar…

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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 [Article originally published in The Barrister] 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…

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THE INTERACTION BETWEEN A PERSONAL INJURY ATTORNEY AND AN ELDER & DISABILITY LAW ATTORNEY

by Thomas D. Begley, Jr., Esquire, CELA [Article originally published in The Barrister] In settling a personal injury case, a number of issues arise where an Elder and Disability Law Attorney may be useful to the Personal Injury attorney.  Frequently, the Elder and Disability Law Attorney works with Corporate Trustees, Structured Settlement Brokers, Financial Advisors, Care…

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