By Thomas D. Begley, Jr., CELA A Third Party Special Needs Trust is usually used in a Medicaid context not for the benefit of the grantor of the trust, but for the beneficiary. The grantor of the trust is typically…
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ALTERNATIVES TO A THIRD PARTY SPECIAL NEEDS TRUST
by Thomas D. Begley, Jr., CELA There are a number of alternatives to a Third Party Special Needs Trusts. These include the following: Disinherit a Child. The problem with this strategy is that one cannot be certain that public benefits,…
ABLE ACCOUNTS ARE COMING TO NEW JERSEY
by Thomas D. Begley, Jr., CELA New Jersey has passed the Achieving a Better Life Experience ACT (“ABLE”). While the Act has passed, it will take some time to implement. Many commentators believe that by the end of the year…
SPECIAL NEEDS TRUST, POOLED TRUST OR ABLE ACCOUNT: WHAT IS MY BEST CHOICE?
by Thomas D. Begley, Jr., CELA New Jersey has now enacted the Achieving a Better Life Experience Act (“ABLE”). It is understood that by Fall this Act will be ready for implementation. The question will then remain: “What is the…
ABLE ACCOUNTS ARE COMING TO NEW JERSEY
by Thomas D. Begley, Jr., CELA New Jersey has passed the Achieving a Better Life Experience ACT (“ABLE”). While the Act has passed, it will take some time to implement. Many commentators believe that by Fall accounts will be able…
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…
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