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CHARITABLE GIVING USING QUALIFIED CHARITBLE DISTRIBUTIONS

By:  Marianne Johnston, Esquire What is a Qualified Charitable Distribution? A Qualified Charitable Distribution (QCD) is a tax strategy that allows you to support charities dear to your heart directly from your individual retirement account (IRA). When you make withdrawals from a traditional IRA account, those distributions are usually taxed as ordinary income to the…

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USING SELF-SETTLED SPECIAL NEEDS TRUSTS TO PROTECT PUBLIC BENEFITS – Begley Report

Many public benefits available to persons with disabilities, such as Supplemental Security Income (SSI) and Medicaid, place limits on income and certain types of assets.  Exceeding such limits can lead individuals to lose some or all of their benefits.  Individuals receiving SSI are limited to $2,000 of assets.  For many individuals, their Medicaid is linked…

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PROTECTING YOUR ASSETS FROM CREDITORS: ARE YOU BULLET-PROOF?

By:  Thomas D. Begley, Jr., Esquire, CELA Many business and professional people have worked for a long time and have accumulated significant assets.  They hope to benefit themselves and their families during their working careers and also in retirement.  The first step in asset protection planning would be to do a risk analysis.  What are…

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Understanding Estate Planning – Begley Report

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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