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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CONSIDERATIONS IN DRAFTING A DISABILITY ANNUITY SPECIAL NEEDS TRUST
by Thomas D. Begley, Jr., CELA There are four main issues to be considered in drafting any trust involving a potential Medicaid recipient. These include: Availability; Transfer of asset penalty; Payback provision; and Tax considerations, including income, gift and estate…
DISABILITY ANNUITY SPECIAL NEEDS TRUST
by Thomas D. Begley, Jr., CELA One of the trusts used in Medicaid Planning is a Disability Annuity Special Needs Trust (“DASNT”). A previous article discussed a Disability Annuity Trust (“DAT”). These trusts are designed so that an individual can…
Moving to a New State When You Have a Family Member with a Disability
Moving to another state is a big undertaking for any family, but it can be particularly complicated when a family member has a disability. The secrets to a successful transition are advance planning and a backup plan in case of…
ESTABLISHING A DISABILITY ANNUITY TRUST FOR A BENEFICIARY RECEIVING SSDI OR SSI
by Thomas D. Begley, Jr., CELA A Disability Annuity Trust (“DAT”) can be established for a disabled child or any disabled individual.[1] However, in considering the use of a DAT for a disabled person, care must be taken to examine…
RETIREMENT ACCOUNT TRUSTS – PART 1
by Thomas D. Begley, Jr., CELA Introduction The United States Supreme Court in a 9-0 unanimous ruling held that an inherited IRA is not protected in bankruptcy under federal law.[1] Heidi Heffron-Clark inherited an IRA from her mother in 2001…
TRUSTS/MEDICAID CONSIDERATIONS
by Thomas D. Begley, Jr., CELA There are seven Trust that should be addressed in considering Medicaid. These are: Revocable Trusts, Income Only Trusts, Children’s Trusts, Disability Annuity Trusts, Disability Annuity Special Needs Trusts, Self-Settled Special Needs Trusts, and Third…
Issues To Resolve During A Divorce Involving Children with Special Needs
Having a child who has special needs can take its toll on a marriage. If you find yourself facing divorce and have a child or children who have special needs, there are some areas you will need to focus on…
ABLE ACCOUNT, THIRD PARTY SPECIAL NEEDS TRUST AND POOLED TRUST: COMPARE
by Thomas D. Begley, Jr., CELA Below is a chart comparing an ABLE Account with a Third-Party Special Needs Trust. ABLE ACCOUNT THIRD PARTY SPECIAL NEEDS TRUST OR POOLED TRUST Onset of Disability Qualifying disability exists prior to age 26 No…
Tagged with: CELA, Contribution Limits, Investment Options, Medicaid Payback Upon Death, SSI, Valid Distributions
Parents Establishing a Self-Settled Special Needs Trust For A Child: What Can Go Wrong?
[An article originally published in the Straight Word, March 2016.] By Thomas D. Begley, Jr., CELA A Self-Settled Special Needs Trust is funded with the assets of the individual trust beneficiary. These trusts usually involve funds received as a result…
Tagged with: Federal District Court, New Jersey, South Dakota, SSA, SSI, Stephany Draper, Stetson Law School
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