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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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RETIREMENT ACCOUNTS AND SPECIAL NEEDS TRUSTS

by Thomas D. Begley, Jr., Esquire, CELA             Under the terms of the SECURE Act, which became law in December of 2019, individuals inheriting retirement accounts generally must withdraw the funds from those accounts within 10 years of the death of the plan participant. Under the former law, the beneficiaries of a retirement account could withdraw…

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New Study Reveals Medical Dangers of Isolation

[Originally published in the NAELA eBulletin] Those who are socially isolated are over 40% more likely to have a cardiovascular event, such as a heart attack or stroke, than those who were socially integrated, new research has shown.  The German study, presented May 23, 2020 at the European Academy of Neurology (EAN) Virtual Congress, found…

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10 THINGS YOU NEED TO KNOW ABOUT ABLE ACCOUNTS

by Thomas D. Begley, Jr., Esquire, CELA   On December 16, 2014, Congress enacted and sent to the President for signature an Act known as Achieving a Better Life Experience (ABLE) Act of 2014.[1]  This Act is to provide a tax-favored account, similar to a 529 Plan, for individuals with disabilities to pay for qualified…

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