Expert Special Needs Planning Attorney Appears on John Hancock Radio Show
Moorestown, NJ (Law Firm Newswire) July 21, 2011 - New Jersey special needs planning attorney Thomas D. Begley, III appeared on the John Hancock radio show on June 21, 2011. Begley discussed the importance of life planning for children with disabilities. He and Randy Zipse, the radio show host, highlighted how every family and special needs situation is unique, so parents need to get adequate counsel to ensure the best interests of the child are upheld.
“It’s never too early to plan,” Begley said. “You’ll want to find good financial and legal advice that respects your child’s individuality and so that their personal and financial needs are protected.”
Begley is a leading expert on special needs planning and practices law at the Begley Law Group, PC in New Jersey and Pennsylvania. He guides parents to honestly assess all the issues for a special needs child. These include:
• Addressing the child’s personal, medical and financial needs, before they turn 18 years old and after
• Setting up a protective arrangement to assign guardianship
• Creating power of attorney documents and a living will
Begley Law Group, PC has decades of experience assisting clients with disabilities. They help parents get access to government benefits for the child, including Medicaid and Supplemental Social Security Income.
“It’s critical to preserve these needs-based benefits and also properly establish a special needs trust to make sure there are financial resources for the child,” Begley said.
Improper planning can lead to government benefits being cut off, which is devastating to the child and family. Proper legal advice will allow special needs trust monies to supplement government benefits, not supplant it. Begley has also found that many families forget to update their other assets with a special needs child in mind. A beneficiary designation for life insurance, for example, should go to the special needs trust for the child and not the child directly to prevent government benefits from being eliminated.
All the Begley Law Group special needs planning lawyers are experts at public benefits law, trust law, and the tax laws affecting trusts and public benefits. Thomas D. Begley, Jr. was the founding General Manager of the Special Needs Alliance, an organization of leading attorneys specializing in special needs planning and trusts throughout the United States.
The John Hancock radio show is geared toward insurance advisors, attorneys, and certified public accountants. Randy Zipse, JD, CPA and VP and Senior Counsel, hosts the weekly show and manages a group of attorneys and case design consultants that help advisors with sophisticated estate planning cases.
To listen to the podcast from the John Hancock radio show, click on http://www.begleylawyer.com/2011/06/thomas-begley-iii-discusses-special-needs-planning-on-john-hancock-radio-jham/.
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
- Lien Resolution In Personal Injury Cases
This is the third in a series of articles dealing with lien resolution in personal injury cases. Welfare Liens In New Jersey, there is a lien against real and personal property of a person who has been assisted by or received support from any municipality or county. This is true whether a person has been in a county facility or at home.1 Mental Health Liens In New Jersey. a person with a mental illness who is over age 18 and is being treated in a state psychiatric hospital shall be liable for the full cost of his treatment. maintenance. and all necessary related expenses.2 [...]
- 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, as we know them today, will continue forever. Many public benefits have been cut back in recent years and there is no guarantee that current benefits will not be reduced as well. Many parents who have severely disabled children, whose needs are covered by public benefits, will consider disinheriting the children, but they should be made aware that current public [...]
- 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 requirement Age of Beneficiary No requirement No requirement Who May Establish Beneficiary, parent, guardian, agent Anyone except beneficiary Number of Accounts One per beneficiary Unlimited Fees Financial institution fees Attorney and trustee fees Contribution Limits $14,000 per year (federal gift tax limit); total capped at state limit for 529 college savings accounts; SSI payments suspended when assets total $100K Unlimited Investment Options Investment strategies may be changed [...]
See other news sources publishing this article. BETA | Tags: new jersey elder law, new jersey elder law attorney, new jersey estate planning, new jersey estate planning attorney, new jersey estate planning lawyer, New Jersey Special Needs attorney, New Jersey Special Needs Lawyer, New Jersey Special Needs planning, new jersey veterans law, nj elder, nj estate planning, nj estate planning attorney