WHAT IS A SPECIAL NEEDS TRUST? WHEN IS IT NEEDED IN A PERSONAL INJURY CASE AND HOW DOES IT OPERATE?
Frequently, in the settlement of a personal injury case the plaintiff is receiving a large settlement. Often, the same plaintiff has significant financial and medical needs that can be met through public benefits. The purpose of a Special Needs Trust is to enable the disabled beneficiary to enjoy the proceeds of the personal injury settlement…
POST-SETTLEMENT ISSUES IN PERSONAL INJURY CASES
Years ago the difficult job of a personal injury attorney was to settle the case. In recent years, a myriad of other issues has developed and the personal injury attorney is wise to address them in order to avoid malpractice claims later on. Some of the issues that must be considered are the following: Liens. …
POST-SETTLEMENT OPTIONS WITH RESPECT TO A PERSONAL INJURY SETTLEMENT FOR A MINOR OR INCAPACITATED PERSON
Essentially, there are four options with respect to the treatment of settlement funds obtained on behalf of a minor or incapacitated person. Deposit with Court. In New Jersey, funds could be deposited in the Surrogate’s Court. There are virtually no advantages to this option, but several disadvantages. The disadvantages include: Generally, each time money is…
THE IMPACT OF THE AFFORDABLE CARE ACT ON PERSONAL INJURY SETTLEMENTS
Purposes of the Act On March 30, 2010, President Obama signed The Patient Protection and Affordable Care Act[1] as amended by The Health Care and Education Reconciliation Act of 2010.[2] These two statutes are commonly referred to as the Affordable Care Act (ACA). The two most important legislative purposes are:[3] To increase the number of…