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WHAT IS A SPECIAL NEEDS TRUST?

by Thomas D. Begley, Jr., Esquire, CELA A Third Party Special Needs Trust is generally established by parents or grandparents of a child with special needs to ensure that important public benefits can be accessed in the future or can be maintained if they are already available.  The trust also is designed to see that monies…

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How to Plan for Children With Disabilities?

by Thomas D. Begley, Jr., Esquire, CELA The Problem The problem for a special needs child begins when parents are either deceased or physically unable to continue to provide the care that the child needs.  As long as parents are living, they will do everything necessary to see that their child lives happily and as productively…

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INCOME TAXATION OF EMOTIONAL DISTRESS CLAIMS

by Thomas D. Begley, Jr., Esquire, CELA Questions frequently arise with respect to the taxation of emotional distress claims.  As a general rule, damages for emotional distress are subject to income tax.  However, a careful analysis can result in the elimination of this tax.   Emotional Distress             Emotional distress has been defined as a highly unpleasant emotional reaction…

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ARE LEGAL FEES IN PERSONAL INJURY RECOVERIES TAX DEDUCTIBLE TO THE PLAINTIFF?

by Thomas D. Begley, Jr., Esquire, CELA [Article originally published in The Barrister, Jan 2020] As a general rule, personal legal fees are not tax deductible, but legal fees in connection with business are deductible.  So, if a client gets divorced, this is personal and the legal fees are non-deductible.  If legal fees are paid in connection…

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