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07 Sep SUCCESS STORY OF THE MONTH – FINANCIALLY CHALLENGED UNMARRIED ADULT CHILD SAVES PARENT’S HOME FROM STATE’S REIMBURSEMENT CLAIM

Posted at 13:00h in Estate Planning, Home Equity, Long Term Care, Medicaid Planning, Nursing Home, Success Story of the Month

Client’s largest resource is her $205,000 homestead which does not count as a resource for “means-tested” long-term Medicaid benefits (provided the Medicaid applicant is single and the equity limit is under $572,000 pursuant to Texas law). Client obtains long-term care Medicaid resulting in the government...

06 Sep POSSIBLE LOSS OF HOME TO GOVERNMENT FOR REPAYMENT OF BENEFITS LEADS TO ELDER ABUSE

Posted at 22:42h in Asset Protection, End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Success Story of the Month, Transfer of Death, Trusts

The granddaughter of an elderly California resident was recently sentenced to jail for 17 years for elder abuse after her grandmother was discovered with open wounds and bed sores which resulted in the grandmother’s death due to the granddaughter’s (and daughter’s) neglect. The daughter (who...

06 Sep DID ARETHA FRANKLIN GIVE HER HEIRS ANY “R-E-S-P-E-C-T”?

Posted at 14:40h in Disability Benefits, Estate Planning, Inheritance, Long Term Care, Michael Cohen Dallas Elder Lawyer, Music, Probate Administration, Special Needs, Special Needs Trust, Taxes, Wills

Aretha Franklin, the beloved “queen of soul” died on August 16 with an estimated $80 million estate without a Will or other estate planning documents. She was survived by four sons – one of whom has special needs. Although her music and legacy will live...

01 Aug WILL WE SOON BE ABLE TO CAPITALIZE WITH LESS CAPITAL GAINS TAX?

Posted at 15:00h in Estate Planning, Taxes

Steven Mnuchin, the U.S. Treasury secretary, reportedly said at a July meeting of the Group 20 summit meeting in Argentina that the Treasury Department was reconsidering the definition of “cost” to allow taxpayers to adjust the initial base (value) of an asset for inflation when...

31 Jul SHORT-TERM CARE INSURANCE: THE NEW ALTERNATIVE TO LONG-TERM CARE INSURANCE

Posted at 20:49h in Assisted Living, Disability Benefits, Long Term Care, Medicaid Planning, Nursing Home, Short Term Care

As fewer companies offer long-term care insurance since people are living longer (and insurance companies miscalculated increased life expectancy) and fewer policyholders dropped their policies, a new alternative has been developed for those who have poorer health – short-term care insurance. The trend in recent...

31 Jul 2ND SUCCESS STORY OF THE MONTH – JUDGE TO HELP ALAMO DESCENDANTS SAVE “TARA” WITH ORDER PERMITTING LADYBIRD DEED

Posted at 20:48h in End of Life Care Planning, Estate Planning, Guardianship, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney, Success Story of the Month, Transfer of Death, Wills

An ancestor of client received a Spanish land grant for what is presently client’s homestead with the acreage surrounding it. The property has been passed from generation to generation for almost 200 years (well before Texas became a state). One of client’s ancestors was even...

31 Jul 1ST SUCCESS STORY OF THE MONTH – FINANCIAL ADVISOR DISCOVERS HE SAVED CLIENT $300,000 BY READING OUR MAY NEWSLETTER

Posted at 20:47h in Asset Protection, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Public Benefits Protection, Retirement, Social Security, Success Story of the Month, Taxes, Veterans

Several years ago, a local financial advisor recommended that his client (a married man who is retired) invest his entire traditional IRA worth $300,000 in an annuity (within such IRA). The IRA is the largest asset of the client (he and his wife have $80,000...

30 Jul BLOOD PRESSURE MEDICATION MAY REDUCE RISK OF ALZHEIMER’S

Posted at 19:14h in Alzheimer’s

While researchers have known for years that there is a link between high blood pressure and Alzheimer’s, this new study shows that medication not only mediates blood pressure but can reduce risk for Alzheimer’s. In a recent Johns Hopkins Medical School study, researchers have found...

11 Jul ONE IS THE LONELIEST NUMBER – STUDIES SHOW FRIENDS AND FAMILY COULD ADD TO LIFE EXPECTANCY

Posted at 19:31h in Alzheimer’s, Medicaid Planning, Medicare, Quality of Life

Recent studies show loneliness can reduce life expectancy by eight years – not to mention quality of life. It is estimated that Medicare spends an extra $6.7 billion annually on seniors as a result of social isolation. Recognizing this problem, a California healthcare provider, Care...

11 Jul SMALL ESTATES AFFIDAVIT LIMIT INCREASED TO $75,000.00

Posted at 19:26h in Estate Planning, Michael Cohen Dallas Elder Lawyer

Texas has increased the value of estate assets, excluding a homestead (if there is an exemption such as a surviving spouse or unmarried child living in the home and using it as their homestead) and other exempt property, to $75,000.00 which can pass to heirs...

11 Jul SUCCESS STORY OF THE MONTH – WHERE THERE IS A BAD WILL, THERE IS A WAY

Posted at 19:15h in Beneficiary, Divorce, Estate Planning, Notarizations, Probate Administration, Short Term Care, Success Story of the Month, Wills

Husband and wife (2nd marriage for each and both having children of prior marriage) purchase real estate together, but they fail to deed it into their joint revocable trust that they signed twenty years ago. Since the property wasn’t deeded into the trust, there was need...

11 Jul TEXAS AND THE U.S. PASS LAWS TO PROTECT SENIORS FROM FINANCIAL ABUSE AND SCAMS

Posted at 19:08h in Estate Planning, Financial Powers of Attorney, Power of Attorney, Probate Administration

Due to the continued graying of America as we are in the midst of silver tsunami, a growing and major concern of many seniors is elder financial abuse. As people get older, they become more susceptible to financial scams that may empty brokerage and other...

11 Jul AM I MY PARENT’S KEEPER? Adult children sometimes personally liable for nursing home bill of parent

Posted at 19:02h in Assisted Living, Medicaid Application, Medicaid Planning, Nursing Home, Power of Attorney

Federal laws prevent a nursing home from requiring a third party (often a child or other family member of resident) to be held personally liable as a condition for admission – but nursing homes often say they will not make changes to its admissions contract...

14 Jun THE TIMES THEY ARE A CHANGIN’ – PLANNING FOR DIGITAL ASSETS (WHICH MOST DON’T REALIZE THEY OWN)

Posted at 18:08h in Asset Protection, Disability Benefits, Estate Planning, Financial Powers of Attorney, Long Term Care, Michael Cohen Dallas Elder Lawyer, Mortgage, Music, Power of Attorney, Texas Bar Today Top 10 Blog Posts

The law evolves as technology does, therefore planning must change as well. Most Americans now have “digital assets” – but probably don’t know what this type of asset is. A digital asset is an electronic record in which an individual has a right or interest....

14 Jun SUCCESS STORY OF THE MONTH – WHERE THERE IS NO WILL, THERE IS A WAY – PART 2

Posted at 17:53h in Estate Planning, Long Term Care, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Success Story of the Month, Taxes

Last month we wrote an article about the use of community administration as client lacked any estate planning documents (in particular, neither a power of attorney nor a Will) to achieve the client’s goals. The facts of this month’s success story are as follows: client...

14 Jun BABY YOU CAN DRIVE MY CAR – FINALLY! NEW FORM LIKE LADYBIRD DEED OR TOD DEED FOR A CAR

Posted at 17:40h in Beneficiary, Estate Planning, Lady Bird Deed, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Transfer of Death, Wills

After almost a year since Governor Abbott signed the bill allowing vehicle owners to transfer their vehicle upon death to a beneficiary (and they can sell their car without the consent of the beneficiary), the Department of Motor Vehicles (DMV) finally created a one-page form...

14 Jun 7 REASONS TO NOT GIVE OUTRIGHT ASSETS TO YOUR CHILD

Posted at 17:31h in Asset Protection, Beneficiary, Disability Benefits, Divorce, End of Life Care Planning, Estate Planning, Guardianship, Inheritance, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Public Benefits Protection, Trusts, Wills

It is common for parents with simple wills or trusts to have their children inherit and have outright ownership of parents’ assets after the parents’ death. However the following seven (7) reasons are advantages for the child to inherit by trust (not including, the power often...

13 Jun Will Asthma Drug Reverse Alzheimer’s?

Posted at 21:09h in Alzheimer’s, Michael Cohen Dallas Elder Lawyer

Although previous experiments that have attempted to stop Alzheimer’s disease from developing have been more or less ineffective, a recent test done at Temple University has shown promise in reversing the negative effects of Alzheimer’s disease. Mice that have been engineered to possess one of...

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07 Sep SUCCESS STORY OF THE MONTH – FINANCIALLY CHALLENGED UNMARRIED ADULT CHILD SAVES PARENT’S HOME FROM STATE’S REIMBURSEMENT CLAIM

06 Sep POSSIBLE LOSS OF HOME TO GOVERNMENT FOR REPAYMENT OF BENEFITS LEADS TO ELDER ABUSE

06 Sep DID ARETHA FRANKLIN GIVE HER HEIRS ANY “R-E-S-P-E-C-T”?

01 Aug WILL WE SOON BE ABLE TO CAPITALIZE WITH LESS CAPITAL GAINS TAX?

31 Jul SHORT-TERM CARE INSURANCE: THE NEW ALTERNATIVE TO LONG-TERM CARE INSURANCE

31 Jul 2ND SUCCESS STORY OF THE MONTH – JUDGE TO HELP ALAMO DESCENDANTS SAVE “TARA” WITH ORDER PERMITTING LADYBIRD DEED

30 Jul BLOOD PRESSURE MEDICATION MAY REDUCE RISK OF ALZHEIMER’S

11 Jul ONE IS THE LONELIEST NUMBER – STUDIES SHOW FRIENDS AND FAMILY COULD ADD TO LIFE EXPECTANCY

11 Jul SMALL ESTATES AFFIDAVIT LIMIT INCREASED TO $75,000.00

11 Jul SUCCESS STORY OF THE MONTH – WHERE THERE IS A BAD WILL, THERE IS A WAY

11 Jul TEXAS AND THE U.S. PASS LAWS TO PROTECT SENIORS FROM FINANCIAL ABUSE AND SCAMS

11 Jul AM I MY PARENT’S KEEPER? Adult children sometimes personally liable for nursing home bill of parent

14 Jun THE TIMES THEY ARE A CHANGIN’ – PLANNING FOR DIGITAL ASSETS (WHICH MOST DON’T REALIZE THEY OWN)

14 Jun SUCCESS STORY OF THE MONTH – WHERE THERE IS NO WILL, THERE IS A WAY – PART 2

14 Jun BABY YOU CAN DRIVE MY CAR – FINALLY! NEW FORM LIKE LADYBIRD DEED OR TOD DEED FOR A CAR

14 Jun 7 REASONS TO NOT GIVE OUTRIGHT ASSETS TO YOUR CHILD

13 Jun Will Asthma Drug Reverse Alzheimer’s?

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Medicaid Services

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07 Sep SUCCESS STORY OF THE MONTH – FINANCIALLY CHALLENGED UNMARRIED ADULT CHILD SAVES PARENT’S HOME FROM STATE’S REIMBURSEMENT CLAIM

06 Sep POSSIBLE LOSS OF HOME TO GOVERNMENT FOR REPAYMENT OF BENEFITS LEADS TO ELDER ABUSE

06 Sep DID ARETHA FRANKLIN GIVE HER HEIRS ANY “R-E-S-P-E-C-T”?

01 Aug WILL WE SOON BE ABLE TO CAPITALIZE WITH LESS CAPITAL GAINS TAX?

31 Jul SHORT-TERM CARE INSURANCE: THE NEW ALTERNATIVE TO LONG-TERM CARE INSURANCE

31 Jul 2ND SUCCESS STORY OF THE MONTH – JUDGE TO HELP ALAMO DESCENDANTS SAVE “TARA” WITH ORDER PERMITTING LADYBIRD DEED

31 Jul 1ST SUCCESS STORY OF THE MONTH – FINANCIAL ADVISOR DISCOVERS HE SAVED CLIENT $300,000 BY READING OUR MAY NEWSLETTER

31 Jul WIDOWS/WIDOWERS ENTITLED TO EXTRA $255 OF SOCIAL SECURITY — IF THEY APPLY

30 Jul BLOOD PRESSURE MEDICATION MAY REDUCE RISK OF ALZHEIMER’S

11 Jul MEDICARE AND MEDICAID TARGETED TO REDUCE DEFICIT

11 Jul ONE IS THE LONELIEST NUMBER – STUDIES SHOW FRIENDS AND FAMILY COULD ADD TO LIFE EXPECTANCY

11 Jul SMALL ESTATES AFFIDAVIT LIMIT INCREASED TO $75,000.00

11 Jul SUCCESS STORY OF THE MONTH – WHERE THERE IS A BAD WILL, THERE IS A WAY

11 Jul TEXAS AND THE U.S. PASS LAWS TO PROTECT SENIORS FROM FINANCIAL ABUSE AND SCAMS

11 Jul AM I MY PARENT’S KEEPER? Adult children sometimes personally liable for nursing home bill of parent

14 Jun THE TIMES THEY ARE A CHANGIN’ – PLANNING FOR DIGITAL ASSETS (WHICH MOST DON’T REALIZE THEY OWN)

14 Jun SUCCESS STORY OF THE MONTH – WHERE THERE IS NO WILL, THERE IS A WAY – PART 2

14 Jun BABY YOU CAN DRIVE MY CAR – FINALLY! NEW FORM LIKE LADYBIRD DEED OR TOD DEED FOR A CAR

14 Jun 7 REASONS TO NOT GIVE OUTRIGHT ASSETS TO YOUR CHILD

13 Jun Will Asthma Drug Reverse Alzheimer’s?