PERSONAL INJURY SETTLEMENTS: HOUSING FOR PLAINTIFFS WITH DISABILITIES
by Thomas D. Begley, Jr., CELA Introduction Housing for an individual with disabilities is a major concern. The purchase of a residence is a very important decision involving a number of factors. This is particularly true where the individual is receiving means-tested public benefits such as Supplemental Security Income (SSI) and Medicaid. If there is…
INCOME TAXATION OF LITIGATION PROCEEDS
by Thomas D. Begley, Jr., Esquire, CELA Generally, “all income from whatever source derived” is considered gross income by the Internal Revenue Service (“IRS”).[1] However, income received as a result of a personal physical injury or a physical sickness is not considered income by the IRS.[2] However, punitive damages are considered taxable income.[3] Origin of…
WHEN IS A MEDICARE SET-ASIDE ARRANGEMENT (MSA) REQUIRED IN A THIRD PARTY LIABILITY CASE?
by Thomas D. Begley, Jr., Esquire, CELA In any recovery involving a personal injury case, the interest of Medicare must be considered.[1] Reasons Support the Argument that the Medicare Secondary Payer Act Applies to TPL Cases with Respect to MSAs There are a number of reasons to believe that MSAs are appropriate in personal injury…
STRUCTURED SETTLEMENT V. LUMP SUM
by Thomas D. Begley, Jr., Esquire, CELA It is important to decide in each individual case how much of a personal injury recovery should be structured and how much should be lump sum. The instinct of many personal injury attorneys is to structure as much as possible to avoid having a plaintiff squander the funds….