Blog

17 Jun IS THE HANDWRITING ON THE WALL A VALID WILL?

Posted at 16:04h in Beneficiary, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Wills

If a will written on the fender of a tractor or on the back of a photo or even a blank piece of paper with indentions could be considered valid by a court, could your handwriting on a wall be considered a valid will? It...

26 May CHARLES MANSON’S “GRANDSON” NOT REQUIRED TO TAKE DNA TEST IN HELTER SKELTER PROBATE BATTLE

Posted at 22:05h in Beneficiary, Estate Planning, Inheritance, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Wills

A California appeals court has overturned a lower court ruling requiring the DNA test of Jason Freeman (who has alleged to be the only living descendant and heir of notorious “Helter Skelter” murderer Charles Manson) to determine if he is in fact a blood descendant...

26 May NEW IRS PUBLICATION ERRONEOUSLY REQUIRES INHERITED IRA BENEFICIARIES TO PAY TAXES QUICKER

Posted at 21:59h in Beneficiary, End of Life Care Planning, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Retirement, Taxes

IRS publication 590-B issued recently has surprised almost everyone with its erroneous proposal that designated beneficiaries (“DBs”) will need to take required minimum distributions (“RMDs”) of inherited individual retirement accounts (IRAs) in years one through nine following the year of death of the IRA owner....

26 May HOW TO PREVENT LOSS OF MEDICAID ELIGIBILITY WHEN SELLING YOUR HOMESTEAD

Posted at 20:27h in 529 plan, Assisted Living, Beneficiary, End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Special Needs, Special Needs Trust, Transfer of Death, utma

Usually the most valuable non-countable resource for a long-term care Medicaid recipient (whereby the government helps pay for care costs at a long-term care facility plus medications if the applicant/recipient has less than $2,000 of countable resources) is the homestead. Although there is no equity...

26 May MARILYN MONROE’S ESTATE PLANNING MISTAKE – MOST GOES TO ACTRESS SHE MAY HAVE NEVER MET

Posted at 20:20h in Asset Protection, Beneficiary, Business, Divorce, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Miller Trust, Probate Administration

Diamonds may be a girl’s best friend, but actress Anna Strasberg (who some say Monroe never met or only met once) received much more than that from the legendary actress – even though that was probably not Monroe’s intention. Monroe, who died in 1962, left her...

20 Apr WITH POWER COMES THE ABUSE OF POWER – HOW TO REVOKE A POWER OF ATTORNEY

Posted at 02:00h in Business, Disability Benefits, Divorce, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Notarizations, Power of Attorney, Probate Administration

A durable financial power of attorney (“POA”) is generally an essential part of any estate plan. In fact, it may be the most important document since it is often the most powerful as it often gives the agent the authority to deal with all of...

20 Apr BIDEN PROPOSAL SHIFTS LONG-TERM CARE FROM INSTITUTIONS TO HOME AND COMMUNITY SERVICES

Posted at 01:57h in End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration

President Biden’s recent infrastructure package includes $400 billion for care services at home in addition to community services that would be covered by Medicaid. Although present laws provide for such type of home and community services, there is institutional bias as it is generally easier...

20 Apr ARE PAYABLE ON DEATH ACCOUNTS A SUBSTITUTE FOR A WILL OR TRUST? 10 PROBLEMS WITH POD ACCOUNTS

Posted at 01:55h in Asset Protection, Beneficiary, End of Life Care Planning, Estate Planning, Guardianship, Inheritance, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Public Benefits Protection, Taxes, Transfer of Death, Trusts, Wills

Although Wills are often not difficult to probate in Texas, many times the probate process of determining that the Will is valid (so that the Executor can pay the debts of the estate of the deceased and transfer the assets in accordance with the Will)...

20 Apr ONLINE WILLS CAN FLATLINE INTENDED BENEFICIARIES

Posted at 01:47h in Beneficiary, Divorce, Estate Planning, Power of Attorney, Probate Administration, Short Term Care, Wills

Although not all online or store-bought Wills create legal problems, the following factual situation is an example of the potentially perilous path that an unwitting individual may traverse when doing their own Will. FACTS: Wife (hereinafter referred to as “Zsa Zsa”) has only a few months...

19 Mar HEALTH INSURANCE SPECIAL ENROLLMENT PERIOD ENDS MAY 15, 2021 – NEW COVID RELIEF BILL ALSO LIKELY TO INCREASE ENROLLMENT IN OBAMACARE

Posted at 17:43h in Estate Planning, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Probate Administration

As a result of COVID-19 and the new health problems resulting therefrom, President Biden signed an Executive Order for those either uninsured (around 29 million Americans) or under insured to get health insurance (Obamacare) for those in states served by marketplaces that use the HealthCare.gov...

19 Mar IRS PERMITS TEXANS’ EXTENSION TO JUNE 15 OF TAX FILING AND PAYMENTS DUE TO WINTER STORM – EXTRA TIME TO SAVE ON 2020 TAXES

Posted at 17:39h in Business, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Taxes

As a result of the February 2021 winter storm in Texas, the IRS has extended until June 15 business and individual tax returns filings and payments to be made by Texas taxpayers. This includes business tax returns for 2020 normally due on March 15 as...

19 Mar SUCCESS STORY OF THE MONTH – D-I-Y CAN BE D-U-M-B – OH THE MIGHTY WEB WE WEAVE!

Posted at 17:34h in Disability Benefits, Divorce, Estate Planning, Guardianship, Lady Bird Deed, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney, Probate Administration, Special Needs, Success Story of the Month

This article is not intended to be critical, but it is merely to be an illustration of the perils that could occur when one does their own legal documents. The facts are as follows: Husband and wife own a homestead together during marriage, but they...

19 Mar SEVEN REASONS TO NAME A TRUST AS A BENEFICIARY OF A RETIREMENT ACCOUNT

Posted at 17:28h in Asset Protection, Beneficiary, Charitable Giving, End of Life Care Planning, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Public Benefits Protection, Retirement, Special Needs, Special Needs Trust, Transfer of Death, Trusts

On Saturday, February 27, 2021, I was a guest on financial advisor Rick Foster’s radio show on 660 AM and he asked the question, “When should an IRA go into a trust?” As a result of this often-asked question, I decided to expand upon this...

19 Mar WILL HARRY & MEGHAN’S INTERVIEW CREATE A ROYAL MESS OF HER MAJESTY’S ESTATE PLAN – OR JUST A ROYAL PAIN?

Posted at 17:22h in Beneficiary, Charitable Giving, Estate Planning, Inheritance, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Taxes, Transfer of Death, Trusts

Harry and Meghan’s recent explosive interview by Oprah Winfrey has sent shockwaves to the Royal family. Will this result in a different estate plan for Queen Elizabeth? Although Prince Charles and Prince William were probably already likely to receive a king-sized portion of Her Majesty’s...

24 Feb SUSPENDERS ON SUSPENSION – LARRY KING’S WILL LEAVES NOTHING TO ESTRANGED WIFE

Posted at 09:00h in Beneficiary, Divorce, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Trusts, Wills

The handwritten Last Will and Testament of famed broadcaster, Larry King, omits his estranged wife, Shawn King (“Shawn”), and she is contesting. Larry King filed for divorce from Shawn (his seventh wife) in August 2019, and his new Will was handwritten on October 17, 2019....

15 Feb SUCCESS STORY OF THE MONTH – MAKING A SILK PURSE FROM A SOW’S EAR

Posted at 09:00h in Beneficiary, Disability Benefits, End of Life Care Planning, Estate Planning, Guardianship, Inheritance, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Special Needs, Special Needs Trust, Success Story of the Month, Transfer of Death

When someone fails to plan for his or her estate, it means that person is letting the state determine how and to whom assets should pass upon death of that individual. It may or may not be distributed the way the deceased wanted and the...

09 Feb TOP 7 MISCONCEPTIONS ABOUT LONG-TERM CARE MEDICAID PLANNING – NO PLAN IS A BAD PLAN

Posted at 09:00h in 529 plan, Asset Protection, Divorce, End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Public Benefits Protection, Special Needs, Special Needs Trust, Transfer of Death, Trusts, utma

There are 109 Medicaid programs (at last count) in Texas – each with their own rules. This article concerns the errors or misconceptions common in one of those programs - long-term care Medicaid (where the government helps pay for care in a nursing home). Seven...

01 Feb WHERE THERE IS A WILL THERE IS A WAY (USUALLY)

Posted at 09:00h in Beneficiary, Estate Planning, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Notarizations, Probate Administration, Wills

How to probate a copy of a Will It is often necessary to transfer title of assets of the deceased or to pay any debts due by the deceased through the process (called probate) of getting approval of the court that the Will of the deceased...

26 Jan ‘TIL DEATH DO US PART, SURVIVING SPOUSE PROTECTIONS (EVEN IF DISINHERITED)

Posted at 05:23h in Asset Protection, Beneficiary, End of Life Care Planning, Estate Planning, Home Equity, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Probate Administration, Public Benefits Protection, Taxes

Do you think that if you are married that your spouse automatically is entitled to all of your assets? Do you think that if you disinherit your spouse or perhaps your children in your Will that they automatically will not be entitled to any rights to your...

26 Jan SUCCESS STORY OF THE MONTH – IT IS BETTER TO GIVE THAN RECEIVE – UNLESS YOU APPLY FOR MEDICAID

Posted at 05:13h in Beneficiary, Estate Planning, Home Equity, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Miller Trust, Nursing Home, Probate Administration, Social Security, Success Story of the Month

Facts: Potential Medicaid applicant for governmental assistance to help pay nursing home costs had limited amount of cash and monthly income and had given away money to a relative who spent the money gifted and could not give anything back. This success story is an illustration of how to...

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