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SPECIAL NEEDS AND SETTLEMENT PROTECTION TRUSTS: WHAT ARE THEY AND WHEN DO I NEED THEM? PART 1

By Begley Law Group

by Thomas D. Begley, Jr., Esquire, CELA             In the settlement of a personal injury case questions frequently arise as to the various types of trusts that may be utilized and whether or not a trust is necessary.  This is the first of a two-part series. Five Types of Litigation Trusts             There are five…

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STRUCTURED SETTLEMENTS

By Begley Law Group

WHAT IS A STRUCTURED SETTLEMENT? Most personal injury cases now involve a Structured Settlement.  NSSTA announced a record-breaking $8.523 billion industry milestone in 2023.[1] A Structured Settlement is an annuity that pays the injured plaintiff a series of periodic payments over time, rather than in a single lump sum.  The annuity is purchased by the…

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BLENDED FAMILIES

By Begley Law Group

by Thomas D. Begley, Jr., Esquire, CELA             Planning for blended families can be challenging.  Blended families are married couples in which one or both spouses have children from a previous marriage or relationship, or they could be families whose children have spouses with children from a previous marriage or relationship.  Blended families are fairly…

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POST-SETTLEMENT OPTIONS FOR MINOR OR INCAPACITATED PERSONS

By Begley Law Group

by Thomas D. Begley, Jr., Esquire, CELA             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. Funds could be deposited with the court. There are virtually no advantages to this option, but several disadvantages. The disadvantages include: Generally,…

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