What Is An Able Account And How Can It Help Protect Your SSI Check? – Begley Report
by Thomas D. Begley, Jr., Esquire, CELA ABLE account is a new device available to the disability community that allows a disabled individual to have a limited bank account without risking eligibility for their means-tested public benefits. ABLE accounts can receive $19,000 per year in 2025 from all sources and are capped at the maximum…
USING PUBLIC BENEFITS TO PAY FOR MATRIMONIAL SETTLEMENTS – Begley Report
By: Thomas D. Begley, Jr., Esquire, CELA CASE STUDY 1: DISABLED SPOUSE—NO PUBLIC BENEFITS Bill and Linda are in their mid-30s. Linda has been diagnosed with Multiple Sclerosis and is unable to work. Bill and Linda have decided to divorce, and Linda wants alimony and an equitable distribution. Linda’s attorney succeeds in having Bill pay…
ASSET PROTECTION STRATEGIES: HOW TO PROTECT YOUR ASSETS FROM CLAIMS OF CREDITORS
By: Thomas D. Begley, Jr., Esquire, CELA There are a number of strategies that are used to protect assets from creditors. Some of them work, some of them do not. Some work with limitations. In considering asset protection strategies the Uniform Voidable Transaction Act (formerly known as the Uniform Fraudulent Transfer Act) must be considered. …
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…