Author: Michael B. Cohen

07 Aug NEW LAW MAKES IT EASIER TO TRANSFER TITLE TO VEHICLES ON DEATH

Posted at 12:00h in Beneficiary, End of Life Care Planning, Estate Planning, Lady Bird Deed, Medicaid Application, Medicaid Planning, Nursing Home, Probate Administration, Transfer of Death

As of September 1, 2017, it will be easier in Texas to transfer the title of motor vehicles on an owner’s death. Similar to the Transfer on Death Deed law passed in the state legislative session two years ago whereby real estate can be transferred...

24 Jul I-PAD APPS HELP THOSE WITH ALZHEIMER’S DISEASE

Posted at 11:02h in Alzheimer’s, Dementia, Michael Cohen Dallas Elder Lawyer, Music

According to preliminary research results, computer apps on i-Pads and other electronic devices could help those with Alzheimer’s disease and those inflicted with other forms of dementia who often become agitated as a result of the disease. Previously it has been determined that art therapy,...

17 Jul TEXAS PASSES BILL FOR FIDUCIARY ACCESS TO DIGITAL ASSETS

Posted at 11:00h in Estate Planning, Guardianship, Michael Cohen Dallas Elder Lawyer, Power of Attorney

Did you ever hear of a story where there was no access to electronic pictures or Facebook or have access to an online bank account of a loved one who has died or become mentally disabled? On June 1, 2017, Governor Abbott signed into law...

10 Jul THE TIMES THEY ARE A CHANGIN’ – PLANS AVAILABLE TO MODIFY ESTATE PLANNING IF LAWS CHANGE

Posted at 11:00h in Divorce, Estate Planning, Michael Cohen Dallas Elder Lawyer

Do you think the state legislature will pass laws that may change your existing estate planning documents? Do you think there may be tax reform? Do you think culture may change through changes in electronic communication or social media which may be considered a digital asset? Do you...

03 Jul TRUST REFORMATION FOR TAX OR GOVERNMENTAL BENEFITS ELIGIBILITY PURPOSES BECOMES LAW

Posted at 11:00h in Beneficiary, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Trusts, Wills

On May 22, 2017, Governor Abbott signed a new law which allows a trust to be reformed if necessary or appropriate to achieve the tax objectives of the one who created the trust (the “trustor”) or to qualify a beneficiary for governmental benefits and is...

26 Jun COMMON ESTATE PLANNING CONCERNS OF AN ELDER LAW ATTORNEY

Posted at 11:00h in End of Life Care Planning, Estate Planning, Guardianship, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney, Probate Administration, Special Needs, Special Needs Trust, Trusts, Veterans, Wills

As an elder law attorney, it may be surprising to clients that many of our referrals come from estate planning attorneys since most have limited knowledge regarding public benefits. Many are shocked that there are over 40 Medicaid programs (each with their own rules) in...

19 Jun TEXAS SENATE PASSES BILL FOR A BLOCK GRANT WITH REPEAL OR REPLACEMENT OF OBAMACARE LOOMING

Posted at 11:00h in Beneficiary, Divorce, Estate Planning, Lady Bird Deed, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Retirement, Social Security

The Texas Senate has passed a bill (which has been sent to the Texas House) to facilitate the design and development of a Medicaid block grant waiver so that there would be a continuation of joint funding by the federal and state governments while allowing...

14 Jun CONGRESS GRANTS $400 MILLION INCREASE FOR ALZHEIMER’S RESEARCH

Posted at 11:00h in Alzheimer’s, Medicare, Michael Cohen Dallas Elder Lawyer

Congressional Republicans and Democrats have come to a bipartisan agreement on a historic increase of $400 million in Alzheimer’s research at a time when the government is looking for ways to cut expenses. This shows that Congress feels that significant progress has been made and...

08 Jun ACTIONS TO CONSIDER NOW WITH PENDING TAX REFORM

Posted at 11:00h in 401(k), Asset Protection, Business, Estate Planning, Michael Cohen Dallas Elder Lawyer, Taxes

Although potential tax reform laws are far from settled, taxpayers could consider certain actions now to maximize tax savings including the following: Establish a business entity (if the business owner’s income tax rate is greater than the proposed rate) that the income or losses flow...

22 May LADYBIRD DEED, TRANSFER ON DEATH DEED OR DEED OF GIFT – WHICH IS BEST?

Posted at 11:00h in Beneficiary, Estate Planning, Lady Bird Deed, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Public Benefits Protection, Taxes, Transfer of Death

There are numerous ways real estate can be transferred to avoid probate, but which way is best will depend on the circumstances. The most common choices are either a deed of gift, transfer on death deed or a Ladybird deed (which is an enhanced life...