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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...

12 Jun GUIDELINES ON WHEN AND HOW TO USE ANNUITIES IN PUBLIC BENEFITS PLANNING

Posted at 09:00h in Assisted Living, Financial Powers of Attorney, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Texas Bar Today Top 10 Blog Posts

Many financial planners use annuities in developing a plan for the financial goals of their clients. However, few realize the opportunities that exist in the area of planning for public benefits such as long-term care Medicaid (which helps pay for nursing homes, care at home,...

06 Jun COURT RULES GRANTEE OF LADYBIRD DEED NOT ENTITLED TO PROPERTY

Posted at 09:00h in Estate Planning, Lady Bird Deed, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Transfer of Death

Many may be surprised that just because you are named as the grantee (the one generally entitled to the property at death) of a Ladybird Deed (an enhanced life estate deed), it doesn’t mean you would always be entitled to the property on the death...

02 Jun SURVIVORSHIP ACCOUNTS DON’T ALWAYS GO TO SURVIVOR

Posted at 09:00h in Beneficiary, End of Life Care Planning, Estate Planning, Guardianship, Inheritance

Although most would assume that by placing your initials by an “x” in a signature box titled “multiple-party with right of survivorship on a signature card at a financial institution,” a Tyler court has ruled (which was upheld on appeal) that it is insufficient under...

01 Jun SUCCESS STORY OF THE MONTH – WHERE THERE IS NO WILL THERE IS A WAY

Posted at 09:00h in Asset Protection, Beneficiary, End of Life Care Planning, Estate Planning, Guardianship, Lady Bird Deed, Long Term Care, Medicaid Planning, Nursing Home, Power of Attorney, Special Needs, Special Needs Trust, Success Story of the Month, Wills

Married couple has no estate planning documents (no Will, no power of attorney, etc.) and the husband has lost mental capacity (you cannot sign a Will, power of attorney, etc. if you lack sufficient mental capacity). Husband is institutionalized and it is anticipated that he...

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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?

12 Jun GUIDELINES ON WHEN AND HOW TO USE ANNUITIES IN PUBLIC BENEFITS PLANNING

06 Jun COURT RULES GRANTEE OF LADYBIRD DEED NOT ENTITLED TO PROPERTY

02 Jun SURVIVORSHIP ACCOUNTS DON’T ALWAYS GO TO SURVIVOR

01 Jun SUCCESS STORY OF THE MONTH – WHERE THERE IS NO WILL THERE IS A WAY

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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?

12 Jun GUIDELINES ON WHEN AND HOW TO USE ANNUITIES IN PUBLIC BENEFITS PLANNING

06 Jun COURT RULES GRANTEE OF LADYBIRD DEED NOT ENTITLED TO PROPERTY

02 Jun SURVIVORSHIP ACCOUNTS DON’T ALWAYS GO TO SURVIVOR

01 Jun SUCCESS STORY OF THE MONTH – WHERE THERE IS NO WILL THERE IS A WAY