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NAMING YOUR SPECIAL NEEDS TRUST AS BENEFICIARY OF YOUR MILITARY PENSION

by Adam Cohen, Esquire For active and retire service members, pay of all benefits generally stops upon the service member’s death. However, Survivor Benefit Plan (SBP) is an additional benefit which provides monthly, cost-of-living-adjusted income to certain members of the service member’s family. The SBP is a program which service members may elect to participate…

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HOW TO PAY FOR CARE FOR SPOUSES OR CHILDREN WITH DISABILITIES IN A FAMILY LAW SETTING

by Thomas D. Begley, Jr., Esquire, CELA Levels of Care             Frequently, in divorce situations one spouse has a disability or the couple has a disabled child who requires some form of care on a long-term basis.  There are generally four types of care: Home Care. Either an outside provider comes to the home and…

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Ten Steps in Planning for My Special Needs Child

by Thomas D. Begley, Jr., Esquire, CELA Retain a Competent Special Needs Trust Attorney. The first step in planning for a special needs child is to retain a Special Needs Trust Attorney who is experienced in assisting families with special needs children.  Many Estate and Trust Attorneys draft Special Needs Trusts, but do not have…

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RETIREMENT ACCOUNTS AND SPECIAL NEEDS TRUSTS

by Thomas D. Begley, Jr., Esquire, CELA             Under the terms of the SECURE Act, which became law in December of 2019, individuals inheriting retirement accounts generally must withdraw the funds from those accounts within 10 years of the death of the plan participant. Under the former law, the beneficiaries of a retirement account could withdraw…

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