Blog

19 Oct EIGHT ESTATE PLANNING ERRORS BY THE RICH AND FAMOUS

Posted at 19:38h in Asset Protection, Beneficiary, Divorce, End of Life Care Planning, Estate Planning, Guardianship, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Public Benefits Protection, Taxes, Trusts

Although you would think the rich and famous would be the last to make estate planning errors, but they make mistakes (from which we can learn) like others. Here are some celebrity estate planning mistakes: No Estate Plan. Famous singers Prince and Aretha Franklin failed to...

09 Sep POST-DIVORCE ESTATE PLANNING: 6 COMMON QUESTIONS

Posted at 15:50h in Alzheimer’s, Beneficiary, Disability Benefits, Divorce, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Guardianship, Inheritance, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Retirement, Special Needs, Special Needs Trust, Success Story of the Month, Trusts, Wills

Divorces are often draining – financially and emotionally. As a result, many do not want to incur more costs or even think about different financial arrangements. However, anytime there is a significant change in your family (death, divorce, disability, births, etc.), your estate plan should be at...

09 Sep CONSERVATORSHIP OVER BRITNEY SPEARS $59 MILLION ESTATE EXTENDED

Posted at 15:44h in Alzheimer’s, Business, End of Life Care Planning, Estate Planning, Guardianship, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration

A California judge has recently ruled that conservatorship (which in Texas would be considered guardianship) over Britney Spears and her $59 million estate be extended until 2021. Spears (who has mental health issues and has been under conservatorship since 2008) cannot be in control of her...

09 Sep ALZHEIMER’S ASSOCIATION CREATES NEW WAY TO WALK THE WALK

Posted at 15:21h in Alzheimer’s, Dementia

Unlike the past, you can be anywhere to participate in this year’s Walk to End Alzheimer’s. COVID-19 may have changed how we walk (in the past, it was mass gatherings at different locations throughout the world), but it hasn’t changed the need to walk to raise...

31 Aug SUCCESS STORY OF THE MONTH – THE ALMOST SPEND-LESS SPEND-DOWN

Posted at 13:58h in Alzheimer’s, Estate Planning, Long Term Care, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Retirement, Social Security, Special Needs, Success Story of the Month

Long term care Medicaid helps pay for long-term care costs such as nursing home care and drug costs. The average cost of care in Texas (exclusive of drug costs) is $6500 per month and most Americans have inadequate income or long-term care insurance to pay for...

31 Aug NO FEE FOR SOCIAL SECURITY REPRESENTATIVE PAYEE – BUT IT COULD BE CHOICE FOR THEE

Posted at 13:52h in Alzheimer’s, Beneficiary, Disability Benefits, Estate Planning, Guardianship, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Social Security

Many disabled individuals live solely on Social Security income but lack sufficient mental capacity to handle the payment of their living expenses. Social Security (which doesn’t recognize powers of attorney) permits the appointment of a Social Security Representative Payee (Rep Payee) upon proof of disability and...

17 Aug SUCCESS STORY OF THE MONTH

Posted at 20:24h in Alzheimer’s, Asset Protection, Beneficiary, End of Life Care Planning, Estate Planning, Inheritance, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Public Benefits Protection, Retirement, Special Needs, Special Needs Trust, Success Story of the Month, Transfer of Death, Trusts, Wills

Husband and wife (“clients”) have 2 adult children. Once child is disabled and the other is a spendthrift (money is spent as soon as it is received). The disabled child is on Medicaid and lives in a facility where the drug costs and the great majority of...

11 Aug 12 COMMON TEXAS PROBATE FAQ’S

Posted at 20:34h in Alzheimer’s, Beneficiary, End of Life Care Planning, Estate Planning, Long Term Care, Michael Cohen Dallas Elder Lawyer, Probate Administration, Retirement, Social Security, Transfer of Death, Wills

We get asked questions every day about probate: what it is, how to probate a will, etc. Here are 12 of the most common Texas Probate questions we receive. Question 1: What is Probate? Answer: Probate is the process where a court confirms death and determines who...

11 Aug 16 WAYS TO AVOID GUARDIANSHIP OF THE ESTATE

Posted at 20:29h in Alzheimer’s, Asset Protection, Beneficiary, Disability Benefits, Estate Planning, Guardianship, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Public Benefits Protection, Social Security, Special Needs, Special Needs Trust, Transfer of Death, Trusts, utma

Guardianship if often an expensive legal process which should be avoided if possible. Thus, planning should be considered as an alternative to guardianship. Guardianship is often needed for an incapacitated person. Texas law defines an “incapacitated person” as: a minoran adult, who because of a physical or mental condition,...

11 Aug INSURANCE COMPANY UNINSURED

Posted at 08:16h in Alzheimer’s, Beneficiary, End of Life Care Planning, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Texas Bar Today Top 10 Blog Posts

A recent decision of a San Antonio appellate court determined that faulty drafting of an annuity contract by the insurance company who issued the annuity resulted in a beneficiary being paid far more than the contracted terms. The annuity contract provided for payments during the joint...