» New Jersey Special Needs Lawyer Highlights the Importance of Estate Planning for Parents of Disabled Children

New Jersey Special Needs Lawyer Highlights the Importance of Estate Planning for Parents of Disabled Children

Moorestown, NJ (Law Firm Newswire) February 14, 2011 – Estate planning for parents with disabled children is a very delicate and important proposition. During their lifetime, parents are able to provide emotional and financial support to their children. This support greatly enhances needs-based government benefits, which are frequently utilized by the disabled through supplemental security income and Medicaid.

But when parents pass away, these special children lose emotional support that can never be regained and are at crossroads financially as well. Without proper planning, these children could lose financial support and government benefits.

The Begley Law Group, PC will host a free presentation on special needs trusts on Tuesday, February 15 Tuesday, February 15 from 7:30-9:30pm at the NAMI Mercer Center in Lawrenceville, New Jersey.

“We will show you how to plan for the legal and support services so your loved one will have a good future,” said Thomas Begley III, New Jersey special needs planning lawyer at the Begley Law Group. “A properly designed and executed special needs trust will supplement public benefits such as SSI and Medicaid without jeopardizing eligibility.”

Begley Law Group, PC is very experienced in assisting clients with disabilities and helped start the Special Needs Alliance, a national group of accomplished attorneys who specialize in special needs planning and trusts. They are well versed in public benefits law, trust law, and the tax law affecting trusts and public benefits.

“Our goal is to ensure that your family and your disabled child has the best quality of life possible,” said Begley III, who also is the recipient of the Martindale-Hubbell Peer Review Rating of AV that is awarded to lawyers operating at the highest level of professional excellence and upholding the highest ethical standards and is recognized as a New Jersey Super Lawyer. “We get to know you and your family to tailor a plan specific to the needs and long-term care your child deserves as well as point out programs and documents that will help your child for life.”

Registration is required for the free session:
home [a] namimercer.org
Phone: 609-799-8994

NAMI Mercer Center
www.namimercer.org
3371 Brunswick Pike, Suite 124
Lawrenceville, NJ 08648

To learn more or to contact a New Jersey special needs planning attorney, New Jersey estate planning lawyer, or New Jersey Medicaid planning lawyer, call 1.800.533.7227 or visit http://www.begleylawyer.com.

Begley Law Group
509 S. Lenola Road, Building 7
Moorestown, NJ 08057
Tel: 800.533.7227

  • USING SELF-SETTLED SPECIAL NEEDS TRUSTS TO PROTECT PUBLIC BENEFITS
    Many public benefits available to persons with disabilities, such as Supplemental Security Income (SSI) and Medicaid, place limits on income and certain types of assets. Exceeding such limits can lead individuals to lose some or all of their benefits. Individuals receiving SSI are limited to $2,000 of assets. For many individuals, their Medicaid is linked to their SSI. Today there are many Medicaid Waiver Programs. In many states the asset limit for these waiver programs is also $2,000, but this varies from program-to-program and from state-to-state. Assets held in ABLE accounts do not affect SSI until the ABLE account reaches [...]
  • COMPARISON BETWEEN A DISABILITY ANNUITY TRUST AND A DISABILITY ANNUITY SPECIAL NEEDS TRUST
    by Thomas D. Begley, Jr., CELA The chart below is a brief comparison between a Disability Annuity Trust (“DAT”) and a Disability Annuity Special Needs Trust (“DASNT”). Consideration              DAT          DASNT Typical Grantor Parent/Grandparent Parent/Grandparent Typical Trustee Family Member (Non-Beneficiary) Family Member (Non-Beneficiary) Assets Available Yes No SSDI/ Medicare Yes Yes SSI/Medicaid No Yes Transfer Penalty No No HEMS Standard Yes No SNT Standard No Yes  
  • 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 taxes. Let’s examine each of these issues in the context of a DASNT. Availability. The assets in the DASNT would not be available, because the trust would be designed to give the trustee complete discretion with respect to distributions. Standard Third-Party Special Needs Trust language would be used in designing the trust. The standard DAT language would also be included. [...]

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