SPECIAL NEEDS TRUSTS AND MEDICARE SET-ASIDE ARRANGEMENTS
by Thomas D. Begley, Jr., Esquire, CELA Generally, Medicare Set-Aside Arrangement (MSA) funds are deposited in a custodial account with a professional trustee or given to the client to self-administer. For cases less than $100,000, giving the funds to the client to self-administer makes sense. CMS has issued a letter of instructions to be delivered…
PROTECTING THE HOME FROM THE COST OF LONG-TERM CARE
by Thomas D. Begley, Jr., CELA Seventy percent of Americans will require some form of long-term care be it nursing home, assisted living or home care. The cost of this care can range from $20 per hour or more for home care to $10,000 – $12,000 per month for nursing home care. Before becoming eligible…
TOP TEN MISTAKES IN DRAFTING SPECIAL NEEDS TRUSTS
[This article was originally printed in the Straight Word, a publication of the Burlington County Bar Association.] by Thomas D. Begley, Jr., CELA There are a number of mistakes that scriveners make in drafting special needs trusts. This article will discuss those that frequently occur. Including a Payback Provision in a Third-Party Special Needs Trust….
SPECIAL PROBLEMS AFFECTING THE ELDERLY – PART 1
by Thomas D. Begley, Jr., CELA As the population of the United States tend to age and Baby Boomers begin retiring in large numbers, there are a number of problems that will affect the elderly that need to be addressed. Retirement Income. In 2012, people age 65 and older had an average income of $31,742,…