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SPECIAL NEEDS PLANNING: MORE THAN DOCUMENT DRAFTING

by Thomas D. Begley, Jr., Esquire, CELA             Planning for families with special needs members involves a lot more than simply drafting a Special Needs Trust (SNT).  Individuals with special needs, often children, grandchildren or other family members, require a considerable amount of care.  The challenge really begins once the parents are gone.  At that point, who is going…

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WHAT IS AN ABLE ACCOUNT AND HOW CAN IT HELP PROTECT YOUR SSI CHECK?

  An ABLE account is a new device available to the disability community that allows a disabled individual to have a limited bank account without risking eligibility for their means-tested public benefits. ABLE accounts can receive $15,000 per year from all sources, and are capped at the maximum account size of a 529 College Savings…

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PERSONAL INJURY SETTLEMENTS AND SPECIAL NEEDS TRUSTS: SETTING CLIENT EXPECTATIONS

by Thomas D. Begley, Jr., Esquire, CELA   If a client receiving a personal injury settlement also receives certain public benefits such as SSI and many forms of Medicaid, a Special Needs Trust is required to preserve those benefits.  Special Needs Trusts entail restrictions and a small minority of clients would rather give up their…

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PLANNING FOR INDIVIDUALS WITH SPECIAL NEEDS PART 5

by Thomas D. Begley, Jr., CELA General This is the final part of a five-part series dealing with planning for individuals with special needs.  Part 1 discussed the reasons to plan.  Part 2 discussed the use of Self-Settled Special Needs Trusts (SSSNTs).  Part 3 discussed Third Party Special Needs Trusts (TPSNT).  Part 4 discussed Pooled…

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